4004
Property ID
49 Sqm
Size
0.5
Bedrooms
1
Bathroom
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 810.00 Managed by Balaton Court Body Corporate (011) 720 0220.
Specs: Neatly tiled Bachelor unit a separate kitchen as well as a separate bathroom with a bath, basin and toilet. The unit has a open balcony.
Neatly tiled Bachelor unit a separate kitchen as well as a separate bathroom with a bath, basin and toilet. The unit has a open balcony.
The property is currently however according to the rental managers in the area a rental income between R 2 800.00 to R 3 000 p.m. can be achieved if the property is upgraded to their specifications.
The property is in a good condition, and only requires some general maintenance to be done e.g. painting. A detailed maintenance quote will be supplied to the successful buyer.
No. According to the Body Corporate up to 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%):
| R140 000.00 Bond at 7% | =R 977.00 p.m. |
| Monthly Levy | =R 810.00 p.m. |
| Rental Management fee (if applicable) | =R 322.00 p.m. |
| Total | R 2 109.00 p.m. |
R 2 800.00 rental income – R 2 109.00 expenses = R 691.00 Cashflow positive.
Purchase with Cash:
| Monthly Levy | =R 810.00 p.m. |
| Rental Management fee (if applicable) | =R 322.00 p.m. |
| Total | R 1 132.00 p.m. |
R 2 800.00 rental income – R 1 132.00 expenses = R 1 668.00 Cashflow positive.
Gross Yield: 24% at R 2 800.00 rental income and R 140 000.00 cash offer.
