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R7,650,000

IDEAL PROPERTY FOR STUDENT ACCOMMODATION

The property fronts onto Bulwer Road, in Glenwood, Durban and is exceptionally well located, across the road from Glenwood High School and in close proximity to both the UKZN, DUT and the city centre, making it an ideal property for student accommodation.
The property has been improved with a three-storey, block of flats, consisting of ground, first and second floor.
The block consists of six flats, offering a total of 12 bedrooms, 6 kitchens, 8 bathrooms, 8 lounges, a bar area, an outdoor pool, braai, Gazebo and entertainment area, numerous storerooms, 2 laundry areas with windy driers, an electronic front access gate, plus secure covered parking for 10 cars.
This unique 12 room property, which has numerous expansion opportunities, could currently accommodate 24 students as it stands and with some additions (see below), it could accommodate between 36 and 42 students.
Should a purchaser wish to expand the property to accommodate an additional 12 to 18 students, they could carry out the refurbishments and renovations, suggested below.
- With some very minor additions to Flat 1, an additional 3 rooms could be added.
- There is also enough space on the property to add a further 2 to 3 rooms, should this be required.
- Furthermore, there is also an additional area on the flat above the roadside double garage, where an additional 2 to 3 rooms could be constructed.
- All in all, and additional 4 to 9 rooms could be added, to the existing 12 rooms, depending on the degree of renovation, that the new owner would want to undertake.
To arrange a viewing, please contact the Craig on 0798713838.
This is exceptional value with so many expansion opportunities ... do not miss this one!!!!

Features

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Title:
Freehold
Zoning:
Commercial
Exterior
Security
No
Sizes
Floor Size
685m²
Land Size
959m²

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Disclaimer: While every effort will be made to ensure that the information contained within the Point Waterfront Realty website is accurate and up to date, Point Waterfront Realty 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.

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Transfer Costs

Natural Persons Legal Persons
Transfer Fees
Deeds Office Levy
Transfer Duty
Postage and Petties:
Rates/Levy Clearance
Pro-Rata Rates/Levies
Deeds Office Search
Electronic Document Preparation
Vat @ 15%
TOTAL:
Please note: Most banks charge an administration and initiation fee.
Disclaimer: These calculations are only a guide. Please ask your conveyancer for exact calculations.

Bond Costs

  Natural Persons
Fees
Deeds Office Levy
Postage and Petties
Bank Electronic Connection Fee
Electronic Document Preparation
Vat 15%
TOTAL:
GRAND TOTAL:

Income

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Expenses

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%
Joint Total Income
Joint Total Expenses
Joint Available Income
 

MONTHLY REPAYMENTS

 

LOAN AVAILABLE

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%

Monthly Payment

102,157.34

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