21 Bedroom Apartment / flat for sale in Glenwood

This well-maintained block of flats in Umbilo offers an excellent opportunity for investors looking to secure a property with strong existing rental income and further income-generating potential. The property is currently fully tenanted and offers a versatile mix of residential units, including: • 3 × Three-bedroom units, each with 2 bathrooms • 4 × Two-bedroom units, each with 2 bathrooms • 1 × One-bedroom unit with an en-suite bathroom • 1 × Studio apartment • 1 × Domestic quarters • 3 × Lock-up garages The kitchens are fitted with built-in cupboards, stoves and ovens, while the bedrooms feature built-in wardrobes. All residential units offer en-suite or dedicated bathroom facilities. Security and convenience are well catered for, with secure parking for more than 10 vehicles and two vehicle access points, including an electric remote-controlled gate and a manual gate. The property is ideally positioned close to key amenities and transport routes, including UKZN Medical School, King Edward Hospital, Queensmead Mall, the Motor Licensing Department, China Plaza, Chester Meats Wholesale, Durban Primary School and Glenwood Christian School. Rental Income The property currently generates approximately R59,000 per month in rental income, with the following rental structure: • Two-bedroom units: approximately R7,000 per month each • Three-bedroom units: approximately R7,500 per month each • One-bedroom unit: approximately R5,000 per month • Studio apartment: approximately R3,500 per month There is also potential to increase the property's income to approximately R100,000 per month by converting the accommodation to suit the student rental market, subject to the necessary approvals and requirements. With its strong tenant demand, convenient location, multiple income-producing units and scope for increased rental returns, this property presents an attractive opportunity for both seasoned investors and buyers looking to expand their property portfolio. Rates: Approximately R1,900 Current Rental Income: R59,000 per month Potential Income: Up to approximately R100,000 per month