Albany Court Ref 871

871

Property ID

65 Sqm

Size

1

Bedroom

1

Bathroom

Description

Albany Court is perfectly located in Joubert Park with visible 24/7 security in the complex which is a great advantage!

The building is located among great amenities in town especially a number of schools, emergency and entertainment services.

It is favoured amongst investors and residents.

A great opportunity with a great return!

Number of flats in building: 62.

Size: 65 sqm.

Levy: R 621.00 pm. Managed by City Accommodations 011 720 5334.

A one-bedroom unit with a separate living area that’s utilised as an additional bedroom with 2 beds in the one room and another 2 beds in the other. The unit has a separate tiled kitchen and a bathroom with a bath, basin and a toilet.  The rest of the unit is carpeted, the unit is also equipped with an open balcony as well as burglar bars on the windows.

The owner is currently renting out the unit for an amount of R 5 000.00 p.m. According to rental managers in the area a rental income of between R 4 200.00 p.m. and R 5 000.00 p.m. can be achieved, if the property is upgraded to their specifications.

The unit requires maintenance.  There are tiles missing on the bathroom walls.  Overall the unit needs some paintwork.  The kitchen cupboards need attention.  The unit does not have a geyser.  A detailed maintenance quotation will be supplied to the successful buyer.

Yes. According to the Body Corporate 4 people may reside in the unit.

Closest Amenities:

Name Type Suburb Distance
Afro Kombs College Education Joubert Park 0.25 km.
Netcare – Rand Hospital Emergency Services Joubert Park 0.71 km.
Highpoint Shopping Centre Shops Joubert Park 0.29 km.

Calculation:

Purchase with Bond (90%):

R 178 000.00 Bond at 10.25 % =R1 573.00 p.m.
Monthly Levy =R   621.00 p.m.
Rental Management fee (if applicable) =R 575.00 p.m.
Total R 2 769.00 p.m.

R 5 000.00 rental income – R 2 769.00 expenses = R2 231.00 Cash flow positive.


Purchase with Cash:

Monthly Levy =R 621.00 p.m.
Rental Management fee (if applicable) =R 575.00 p.m.
Total R 1 196.00 p.m.

R 5 000.00 rental income – R 1 196.00 expenses = R 3 804.00 Cash flow positive.


Gross Yield:
 33.70 % at R 5 000.00 rental income and R 178 000.00 cash offer.

 

 

 

Would you like to make an offer on this property?

Address

Address: 18 Claim Street, Joubert Park
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Joubert Park
  • Postal code / ZIP: 2198
Open on Google Maps
  • Property ID 871
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1
  • Bathrooms 1
  • Size 65 Sqm
  • Label Invest
  • Number of flats in building: 62

Contact

Ian

Property Agent
reception@mamela.co.za
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