Sandringham – 30 Gillespie Street

Description

This bachelor  (53m²) apartment is located in the building called Sandringham on Gillespie St in Central Beach area.  The large living area has enough space for a full lounge and dinning room table and the sleeping recess can easily fit a double bed. Decent size separate kitchen and bathroom.   24 Hour security with strict access with a live in supervisor.

Why I think this is a good deal

Due to the size of this 53m2 bachelor it is already bigger than one bedroom apartments along Gillespie Street so buy referring to it as a one bedroom and not a bachelor flat will affect the rental achieved. (see pictures and video)

If one was to but in a nice hanging curtain to separate the living and sleeping area the rental could be increased to R4500 a month, which would make this a cash flow positive investment. The building is being  painted internally giving it a fresh appeal. The Art Deco building next door is being painted on the outside and this will give the section of road a good curb appeal.  The location is central and would attract tenants that are working at Transnet, the Municipality, Call Centres ect.

With Durban under going major building projects throughout the City, this will be one of the last “Cheapies” along the beach front. With the prices rising on South Beach already and the higher established value of North Beach this is the least area that is being squeezed by entry level properties are snapped up by both investors and the every growing first time buyers entering the market.

Calculations