Income-Generating Commercial Property for Sale in Glenwood, Durban
Income-Generating Commercial Property for Sale in Glenwood, Durban
An excellent investment opportunity in Glenwood, comprising 27 self-contained micro-apartments, each with its own bedroom and bathroom. The property is currently generating rental income of R4,770 per unit per month, excluding utilities, providing a total gross rental income of approximately **R128,790 per month or R1,545,480 per year**. With multiple tenants contributing to the overall rental income, the property offers an established income stream and an opportunity for investors to acquire a multi-tenanted commercial asset in an established Durban rental market.
The property also offers significant potential to increase returns through rental optimisation and a possible transition towards student accommodation, subject to the necessary approvals and compliance requirements. At a projected rental of R7,000 per unit, the 27 units could generate approximately **R189,000 per month or R2,268,000 annually in gross rental income**. This represents potential additional gross income of approximately R60,210 per month compared with the current rental structure. Located close to the University of KwaZulu-Natal's Howard College campus, Durban University of Technology, public transport, shopping facilities and healthcare services, the property is well positioned to attract a range of tenants. **Asking Price: R10,995,000.**
Contact Humera or Maurice to arrange your exclusive viewing today.
An excellent investment opportunity in Glenwood, comprising 27 self-contained micro-apartments, each with its own bedroom and bathroom. The property is currently generating rental income of R4,770 per unit per month, excluding utilities, providing a total gross rental income of approximately **R128,790 per month or R1,545,480 per year**. With multiple tenants contributing to the overall rental income, the property offers an established income stream and an opportunity for investors to acquire a multi-tenanted commercial asset in an established Durban rental market.
The property also offers significant potential to increase returns through rental optimisation and a possible transition towards student accommodation, subject to the necessary approvals and compliance requirements. At a projected rental of R7,000 per unit, the 27 units could generate approximately **R189,000 per month or R2,268,000 annually in gross rental income**. This represents potential additional gross income of approximately R60,210 per month compared with the current rental structure. Located close to the University of KwaZulu-Natal's Howard College campus, Durban University of Technology, public transport, shopping facilities and healthcare services, the property is well positioned to attract a range of tenants. **Asking Price: R10,995,000.**
Contact Humera or Maurice to arrange your exclusive viewing today.
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Bulwer, Durban
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While every effort will be made to ensure that the information contained within the Legacy Real Estate Group website is accurate and up to date, Legacy Real Estate Group makes no warranty, representation or undertaking whether expressed or implied, nor do we assume any legal liability, whether direct or indirect, or responsibility for the accuracy, completeness, or usefulness of any information. Prospective purchasers and tenants should make their own enquiries to verify the information contained herein.