Churchill Ref 844

844

Property ID

83 Sqm

Size

2

Bedrooms

1

Bathroom

Description

Churchill is centrally located near the Gautrain, Park Train Station, Hillbrow Clinic and Braamfontein. The lifts are working and there is 24-hour security with bio metric access.

This block is popular with investors. There COJ accounts is up to date.

The building boasts of audited financial statements and it’s also insured.

Mamela is currently managing several units in the building and the investors are getting great returns on their acquisitions.

An opportunity not to be missed.

Number of flats in building: 77.

Size: 83sqm.

Levy: R 1046.99 Managed by Letcor. (011) 403 0701

A spacious two bedroom flat with one bathroom consisting of a bath, basin and a separate toilet. It has a big open plan living area with a balcony which is used as an additional bedroom. There’s an open plan kitchen and a closed balcony.

The owner is currently receiving a rental amount of R 5 500.00 p.m. According to rental managers in the area a rental income of between R 5 500.00 p.m. and R 5 890.00 p.m. can be achieved if the property is upgraded to their specifications.

The unit is in a good condition, with a working geyser, general cosmetic maintenance will be required. A detailed maintenance quote will be provided to the successful purchaser. 

Yes. According to the Body corporate 6 people may stay in the unit.

Closest Amenities:

Name

Type

Suburb

Distance

BP Shops Shops Hillbrow

0.26 km.

Police SAPS Emergency Hillbrow

0.52 km.

Progressive Primary School Education Hillbrow

0.44 km.

Calculation:

Purchase with Bond (90%):

  • R 225 000.00 Bond at 10.00 % =R 1954.17 p.m.
  • Monthly Levy =R 1046.99 p.m.
  • Rental Management fee (if applicable) =R 677.32 p.m.
  • Total =R 3678.48 p.m.

 

R 5890.00 rental income – R 3678.48 expenses = R 2211.52 Cash flow positive.

Purchase with Cash:

  • Monthly Levy =R 1046.99 pm
  • Rental Management fee (if applicable) =R 677.32 pm
  • Total = R1724.31 pm


R 5890.00 rental income – R 1724.31 expenses = R 4165.69 Cash-flow positive.

Gross Yield: 31.4% at R 5890.00 rental income and R 225 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 2 Ockerse Street, Joubert Park
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Hillbrow
  • Postal code / ZIP: 2198
Open on Google Maps
  • Property ID 844
  • Property Type Sectional Title
  • Property status Sold
  • Bedrooms 2
  • Bathrooms 1
  • Size 83 Sqm
  • Land area 5,175 SqFt
  • Label Invest
  • Number of flats in building: 77

Contact

Ian

Property Agent
reception@mamela.co.za
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