Vacant Land For Sale in Durban

Property description

This investment opportunity presents a prime 1,500sq meter plot of land with approved development plans for a high-density residential project. Here’s an analysis of the potential:

Key Features
1. Approved Development Plan:
• 16 x 2-bedroom apartments: Ideal for young professionals, small families, or rental markets.
• 8 x 3-bedroom apartments: Suitable for co-living, corporate housing, or student accommodation.
2. Parking Facilities:
• Over 40 parking bays, exceeding typical requirements, enhancing property value and tenant convenience.
3. Location:
• Since this site is in an urban or growing suburban area, its value increases significantly due to rising housing demand.

Investment Opportunities
1. Rental Income Generation:
• The two-bedroom apartments(68sqm) cater to steady rental markets@ R7000pm.
• The larger 3-bedroom apartments(86sqm) provide potential for premium rental income@ R8500pm, through co-living or short-term rentals.
2. Development & Sale:
• Build and sell units individually. Two-bedroom apartments are typically more marketable at R750 000. while the larger units appeal to niche buyers or institutions at R850 000.-R900 000.
3. Mixed Strategy:
• Sell a portion of the units to recover capital while retaining others for consistent rental income.
4. Co-Living or Specialized Use:
• The 3-bedroom apartments could be adapted for niche markets such as student housing, senior living, or workforce housing.

Advantages for Developers:
• Scalability: The approved plan allows for immediate construction without lengthy approval processes.
• High ROI Potential: The unit mix and parking availability cater to diverse market needs.
• Future-Proofing: Flexible use of larger units offers adaptability to changing market trends.

Would you like help calculating potential rental income or assessing financial projections? We have our property specialists at TME BAM REALTY who will guide you through this journey.