Balaton Court Ref 873

873

Property ID

49 Sqm

Size

1

Bedroom

1

Bathroom

Description

Due to the great location, Balaton court is fully occupied by residents.

The lift is currently in working condition and there is a security gate at the main entrance.

Mamela is currently managing a number of units in the building and the investors are getting great return on their acquisitions.

This is indeed an opportunity not to be missed.

Number of flats in building: 51.

Size: 49 sqm.

Levy: R 735.00 Managed by Balaton Court Body Corporate (011) 720 0220.

Neatly tiled Bachelor unit with a common living area and 3 sleeping stations.  Neat separate kitchen as well as a separate bathroom with a bath, basin and toilet.   The unit was recently painted and has an open balcony as well as a working geyser.

The owner is currently receiving R 3 300.00 p.m. According to the rental managers in the area a rental income between R 3 300.00 to R 3 600 p.m. can be achieved if the property is upgraded to their specifications.

The property is in a fairly-good condition.  The electricity in the kitchen needs attention, the bath needs to be painted and there’s some broken tiles in the bathroom. A detailed maintenance quote 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   
Police SAPS – Hillbrow Emergency Services Hillbrow 0.60 km.
Spar – Fontana Highpoint Shopping Berea 0.36 km.
Afro Komb College Education Berea 0.39 km.

Calculation:

Purchase with Bond (90%):

R 138 000.00 Bond at 10.25 % =R 1219.00 p.m.
Monthly Levy =R 735.00 p.m.
Rental Management fee (if applicable) =R 414.00 p.m.
Total R 2 368.00 p.m.

R 3 600.00 rental income – R 2 368.00 expenses = R 1232.00 Cashflow positive.

Purchase with Cash:

Monthly Levy =R 735.00 p.m.
Rental Management fee (if applicable) =R 414.00 p.m.
Total R1 149.00 p.m.

R 3 600.00 rental income – R 1 149.00 expenses = R 2 451.00 Cashflow positive.

Gross Yield: 31.30% at R 3 600.00 rental income and R 138 000.00 cash offer.

 

 

 

 

Would you like to make an offer on this property?

Address

Address: 19 Pietersen Street, Joubert Park
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Joubert Park
  • Postal code / ZIP: 2044
Open on Google Maps
  • Property ID 873
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1
  • Bathrooms 1
  • Size 49 Sqm
  • Label Invest
  • Number of flats in building: 51

Contact

Ian

Property Agent
reception@mamela.co.za
Other Properties