3 Bedroom House For Sale in Durban

Property description

Type: Multi-family residential property
Units: 6 individual rental units
Tenants: Occupied by tenants with leases in place
Location: (Glenwood)
Property Features:

Unit Configuration: The building consists of 6 residential units, which is a mix of one-bedroom and studio units.
Tenants: The units are fully occupied with tenants. The rental income from these units is a steady source of cash flow for the investor.
Utilities:

Electricity & Water: The property owner bills the tenants directly for their electricity and water usage, monthly basis. This helps to reduce operating expenses for the owner since these costs are passed along to the tenants.
Investment Potential:

Rental Income: The primary income is generated through monthly rents from the 6 tenants. This can provide a stable and predictable cash flow if the property is well-maintained and the rental market is strong in the area.
Tenant Responsibility for Utilities: By having tenants pay for their electricity and water, the investor minimizes the costs associated with these utilities. This can improve the property's net operating income (NOI).
Financial Considerations:

Property Management: Depending on the investor’s preferences, property management can be either self-managed or outsourced to a professional management company. Given that tenants handle utilities, this reduces the workload for the property owner.
Potential monthly : R 20 950 monthly
This type of property is attractive for investors looking for steady rental income with less direct responsibility for utility costs. It also offers the potential for long-term value appreciation, especially if managed effectively and situated in an area with good demand for rental housing

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