Algarve Ref 1001

1001

Property ID

83 Sqm

Size

2

Bedrooms

1

Bathroom

Description

Algarve is centrally located in Hillbrow.

Mamela Estates is currently managing a number of flats for investments in this building.

A sound opportunity not to be missed!



Size: 83sqm.

Levy: R 948.94

A spacious two bedroom unit with a separated toilet, separated bathroom with geyser. Closed Living area and a big kitchen with build in cupboards.

The unit is occupied for R4950.00  According to rental managers in the area a rental income of between R 4 500.00 p.m. and R 5 000.00 p.m. can be achieved if the property is upgraded to their specifications.

Mamela is currently successfully managing properties in the scheme.

The Unit needs maintenance. A detailed maintenance quote will be provided to the successful purchaser. 

Yes. According to the Body corporate 4 people may stay in the unit.

Closest Amenities:

Name

Type

Suburb

Distance

Nandos Shops Hillbrow

0.13 km.

Police SAPS Emergency Hillbrow

0.26 km.

Afro Kombs College Education Hillbrow

0.20 km.

Calculation:

Purchase with Bond (90%):

  • R 250 000.00 Bond  =R 1 813.00 p.m.
  • Monthly Levy =R 950.00 p.m.
  • Rental Management fee (if applicable) =R 569.25 p.m.
  • Total =R 3 332.25 p.m.

R 4950.00 rental income – R 3 332.25 expenses = R 1 617.75 Cash flow positive.

Purchase with Cash:

  • Monthly Levy =R 950.00 pm
  • Rental Management fee (if applicable) =R 569.25 pm
  • Total = R 1519.25 pm


R 4 950.00 rental income – R 1519.25 expenses = R 3 430.25 Cash-flow positive.

Gross Yield: 24% at R 4 950.00 rental income and R 250 000.00 cash offer.

Address

Address: 150 Banket Street, Hillborw
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Hillbrow
  • Postal code / ZIP: 2198
Open on Google Maps
  • Property ID 1001
  • Property Type Sectional Title
  • Property status Buy
  • Bedrooms 2
  • Bathrooms 1
  • Size 83 Sqm
  • Label R250 000.00

Contact

Ian

Property Agent
reception@mamela.co.za
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