Balaton Court Ref 883

883

Property ID

49 Sqm

Size

1

Bathroom

Description

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

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

This property is currently valuated for R172 000.00 which makes this an opportunity not to be missed.

Number of flats in building: 51.

Size: 49 sqm.

Levy: R 810.00 Managed by Balaton Court Body Corporate (011) 720 0220.

Neatly tiled Bachelor unit with a common living area. There is a nicely tiled separate kitchen as well as a separate bathroom with a bath, basin and toilet. The unit has an open balcony as well as a working geyser.

The owner is currently receiving R 3 400.00 p.m. According to the rental managers in the area a rental income between R 3 100.00 to R 3 400 p.m. can be achieved as we are successfully managing similar units in this block.

The property is in a good condition.  We do not foresee any maintenance required at the unit currently. A detailed maintenance quote will be supplied to the successful buyer.

No. According to the Body Corporate 3 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 145 000.00 Bond at 7.25% =R 1 031.00 p.m.
Monthly Levy =R 810.00 p.m.
Rental Management fee (if applicable) =R 391.00 p.m.
Total R 2 232.00 p.m.

R 3 400.00 rental income – R 2 232.00 expenses = R 1 168.00 Cashflow positive.

Purchase with Cash:

Monthly Levy =R 810.00 p.m.
Rental Management fee (if applicable) =R 391.00 p.m.
Total R1 201.00 p.m.

R 3 400.00 rental income – R 1 201.00 expenses = R 2 199.00 Cashflow positive.

Gross Yield: 28% at R 3 400.00 rental income and R 145 000.00 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 883
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bathrooms 1
  • Size 49 Sqm
  • Label Invest
  • Number of flats in building: 51

Contact

Ian

Property Agent
reception@mamela.co.za
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