Property
South Africa

2

Beds

1

Baths

24 m²

Floor area

Apartment 2 beds 1 bath 24 m²

About this property

Going to auction on Wednesday, 25 March 2026, with a reserve price of R210,000 (all offers reviewed), this two-bedroom, one-bathroom apartment presents a genuine value-add opportunity in the Sparks area of Durban.

Situated on the third floor of a multi-storey residential block, the unit comprises two bedrooms, one bathroom, a kitchen, and a lounge. The apartment is tiled throughout and is currently tenanted on a month-to-month basis, generating R3,000 per month in rental income with one month's notice required — making it an immediate income-producing asset while renovation plans are put in place.

As a fixer-upper, the property is well-suited to investors or owner-occupants looking to customise and add value. Ample open parking is available on-site.

The surrounding Sparks neighbourhood is well-serviced for everyday living: St. Theresa's R.C. Primary School is approximately 130 m away, Bechet High School around 310 m, and KWIKSPAR Randles Road sits within roughly 580 m. A medical centre is accessible within 400 m.

Auction terms: A non-refundable 10% commission plus VAT above the purchase price is payable by the buyer to Rawson Auctions on the fall of the hammer.

Rooms & layout

Bedroom × 2
Bathroom
Kitchen
Lounge

Features & amenities

Fixer upperTiledParkingRental incomeTiled throughoutOpen parkingInvestment opportunityMonth to month tenantedMulti storey blockThird floor

Price & ownership

Asking price R 210 000
Price per m² R 8 750
Municipal valuation -

Cost to buy (indicative)

Purchase type is not confirmed below. Transfer duty is estimated for a standard resale (not a VAT-inclusive developer or vendor sale). Check with the agent.

Upfront split

Property price R 210K
Taxes + legal + admin fees R 10K

Rough split: 95.5% purchase price, 4.5% buying costs.

  • Asking price R 210 000
  • Deeds Office (transfer) R 434
  • Conveyancing (est., incl. VAT) R 9 489
  • Deeds lodgement R 52
  • Total indicative R 219 975

Estimates from SARS transfer duty tables, Deeds Office–style fees, and LSSA conveyancing guidelines. Not financial or legal advice. Confirm with your attorney. Duty uses the higher of price or market value.

Table ref: sars_2025-04-01

Bond Calculator

R 1 983 /month

Total paid over 20 years (deposit + repayments): R 496 943

Deposit 10% · R 21 000
Loan term 20 years
5 yr 30 yr
Interest rate 11.25% p.a.
5% Prime ~11.25% 20%

Monthly repayment vs interest rate (deposit fixed at 10%)

Monthly repayment vs deposit percentage (rate fixed at 11.25%)

Indicative estimate only. Loan of R 189 000 over 20 years at 11.25%. Speak to a bond originator for a formal quote.

R 210 000