Clarendon Heights Ref 869

869

Property ID

41 Sqm

Size

1

Bedroom

1

Bathroom

Description

Prime location on the Empire BRT bus route, that links with the main Gautrain station.

Clarendon Heights is a stable building in an area with high growth expectation and a strong rental demand.

The building boasts a biometric turn style access gate that is constantly being monitored by security guards. The lift is currently under construction and the building is insured with Santam.  Mamela is managing a number of units in the building and the investors are getting great returns on their acquisitions.

Clarendon Heights is popular with investors due to the strong financials and excellent management.

Number of flats in building: 96.

Size: 41 sqm.

Levy: R 620.00.00 pm. Managed by Pal Property Management 011 472 7226.

Bachelor Unit with a spacious single bedroom living area.  A separate bathroom consisting of a bath, basin and toilet as well as a Separate kitchen.  The unit is equipped with a geyser and prepaid meters, wooden flooring and is well painted.  Overall the unit is in a very good condition, with a good paying tenant.

The current owner is getting R2 800 p.m. According to rental managers in the area a rental income of between R2 800 pm and R3 000.00 pm can be achieved, if the property is upgraded to their specifications.

The property is neatly painted and overall in a very good condition.  A detailed maintenance quote will be supplied to the successful buyer. 

No. According to the Body Corporate, 2 people may reside in the unit. 

Closest Amenities:

 

Name Type Suburb Distance      
SPAR Hillbrow Shops Hillbrow 0.16km.
Afro Combs College Education Joubert Park 0.39 km.
Netcare Rand Hospital Emergency Services Joubert Park 0.34 km.

 

Calculation:

Purchase with Bond (90%):

 

R 138 000.00 Bond at 10.25 % =R 1 219 p.m.
Monthly Levy =R 620.00 p.m.
Rental Management fee (if applicable) =R 345.00 p.m.
Total R 2 184.00 p.m.


R 3 000.00 rental income – R 2 184.00 expenses = R 816.00 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 620.00 p.m.
Rental Management fee (if applicable) =R 345.00 p.m.
Total R 965.00 p.m.                      


R 3 000.00 rental income – R 965.00 expenses = R 2 035.00 Cashflow positive.

Gross Yield: 26.08 % at R 3 000.00 rental income and R 138 000 cash offer.

 

 

 

Would you like to make an offer on this property?

Address

Address: 138 Twist Street, Joubert Park
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Joubert Park
  • Postal code / ZIP: 2198
Open on Google Maps
  • Property ID 869
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1
  • Bathrooms 1
  • Size 41 Sqm
  • Label Invest
  • Number of flats in building: 96

Contact

Ian

Property Agent
reception@mamela.co.za
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