Berea Towers Ref 1002

1002

Property ID

95 Sqm

Size

1

Bedroom

1

Bathroom

Description

Berea Towers is centrally located in Berea.

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

A sound opportunity not to be missed!



Size: 95sqm.

Levy: R1282.34

Spacious one bedroom unit with a big kitchen with build in cupboards, Separated toilet, Separated bathroom with Bath and basin. Living area and closed balcony.

The unit is occupied for R4400.00  According to rental managers in the area a rental income of between R 4 400.00 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

BP Filling Station Berea

0.35 km.

Faeriedale Shopping Berea

0.74 km.

University of JHB – Doornfontein Education Berea

0.50 km.

Calculation:

Purchase with Bond (90%):

  • R 280 000.00 Bond  =R 1 954.00 p.m.
  • Monthly Levy =R 1 282.34 p.m.
  • Rental Management fee (if applicable) =R 575.00 p.m.
  • Total =R 3 811.34 p.m.

R 5 000.00 rental income – R 3 811.34 expenses = R 1 188.66 Cash flow positive.

Purchase with Cash:

  • Monthly Levy =R 1 282.34 pm
  • Rental Management fee (if applicable) =R 575.00 pm
  • Total = R 1 857.34 pm


R 5 000.00 rental income – R 1 857.34 expenses = R 3 142.66 Cash-flow positive.

Gross Yield: 22% at R 5 000.00 rental income and R 280 000.00 cash offer.

Address

Address: 55 Abel Road, Berea
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Berea
  • Postal code / ZIP: 2198
Open on Google Maps
  • Property ID 1002
  • Property Type Sectional Title
  • Property status Buy
  • Bedrooms 1
  • Bathrooms 1
  • Size 95 Sqm
  • Label R280 000.00

Contact

Ian

Property Agent
reception@mamela.co.za
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