AUCT-001915 | SOLD

16 Two Bedroom Apartments In Isipingo

16 Khan Lane, Isipingo Rail, eThekwini Metropolitan Municipality, KwaZulu-Natal

16 Two Bedroom Apartments In Isipingo. 16 Khan Lane, Isipingo Rail

Site Extent: ± 2 250 m² | GBA: ± 911 m² | Repainted, refurbished apartments | Gross Annual Income: ± R721 800 | Additional development land| Ample on-site parking | Positioned ± 3km from Mangosuthu University – Umlazi Campus

This residential block presents the market with various opportunities regarding use, ideal to be used as a step down or frail care facility, student accommodation or even as it currently is which is private residential.

Positioned approximately 3km from the Mangosuthu University in Umlazi and at the door step of the industrial node of Prospecton, this property presents the market with a rare opportunity in this mixed-use node. Not very often do properties of this magnitude come onto the market, usually it is just single apartments or free-standing homes that are often for sale. The neighbouring property is a brand new student accommodation facility where the existing property on the site was redeveloped and revamped.

The property is secured with concrete palisade and barb wire fencing and the yard, driveways and parking areas are fully tarred. Ample on-site parking is available for both residents and visitors. Fire hoses and fire extinguishers are positioned at convenient points throughout the property.

Access is obtained off Khan Lane via a roller gate. This leads to further development land of approximately ± 430 m² which is in line with existing development, thus having similar yard areas to the existing developments.

The property comprises of 3 buildings, each of them double storey. The configuration of the apartments is 4 within the first building, 8 within the second building and 4 within the last building. The apartments as well as the property itself has been well maintained over the years and some of the apartments have been refurbished. Aluminium windows and granite tops are some of the upgrades done within the apartments.

Each of the apartments have 2 bedrooms, open plan lounge, dining room, kitchen with BIC and a bathroom. Each apartment has its own geyser and most of them have prepaid water and electricity meters. Each apartment is of similar layout to the other, being mirror images. The property is currently tenanted and each apartment is allocated one parking bay, however there is ample additional parking on site.

Towards the rear of the property there is a staff room with a bathroom that is occupied by the property caretaker. The property further comprises of a store room and a designated bin area at the entrance.

The property is located in the established residential community of the suburb of Isipingo Rail. Isipingo Rail forms part of the Isipingo Township. Isipingo remains a vibrant town conveniently located near the M4 and N2 Freeways with swift access to the Durban CBD. The area has a key railway, bus and taxi terminals linking the local neighbourhood and the Isipingo CBD as well as to the Durban CBD.

The property is positioned at 16 Khan Lane, approximately 320m from the main road being Phila Ndwandwe Road (Old South Coast Road). The property is set on the outskirts of the industrial and commercial node of Isipingo Rail. The Mangosuthu University is positioned approximately 3km north of the property.

Isipingo also incorporates other residential suburbs of Isipingo Hills, Orient Hills, Malakazi Township, Isipingo Beach and industrial suburbs of Prospecton. The site is positioned approximately 20km south of Durban.

The industrial area of Prospecton separates the two main residential areas of Isipingo being, Isipingo Rail and Isipingo Beach. Prospecton is positioned a ±5 minutes-drive away from the property. Toyota Manufacturing, South African Breweries, the Republican Press, Sapref Refinery, Shell Chemicals and Sasol Fibres are just some of the large-scale companies located in Prospecton. The properties location is convenient for employees for the above organizations.

The closest shopping centre that serves all of the above residential areas as well as the Isipingo Rail suburb is positioned approximately a 15 minute-drive.

Residential Type:
Apartment Block
Web Reference:
Final price:
16 Khan Lane, Isipingo Rail, eThekwini Metropolitan Municipality, KwaZulu-Natal
Auction Venue:
Mount Edgecombe Country Club
Mount Edgecombe
KwaZulu Natal
Auction Date:
25 April 2023 11:00 am

Andrew Miller
Auction Terms and Conditions:
R 50,000.00 refundable registration deposit. Strictly by EFT. No cash. FICA Documents are required

Bidding opens in

Auction Date: 25 April 2023 11:00:00am

Virend Deonarain
                                                         In2assets Representative

Property Agent

Virend Deonarain
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