Balaton Court Ref 950

4004

Property ID

49 Sqm

Size

0.5

Bedrooms

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 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.

Would you like to make an offer on this property?

Address

Address: 72 Twist Street, Hillbrow
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Joubert Park
Open on Google Maps
  • Property ID 4004
  • Property Type Sectional Title
  • Property status Sold
  • Bedrooms 0.5
  • Bathrooms 1
  • Size 49 Sqm
  • Label R140 000.00

Contact

Ian

Property Agent
reception@mamela.co.za
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