Clarendon Heights Ref 885

885

Property ID

122 Sqm

Size

2

Bedrooms

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. Although this is a great deal, the owner might negotiate on the purchase price.The building boasts a biometric turn style access gate that is constantly being monitored by security guards. The building is insured with Santam.

Mamela is managing several 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: 122 sqm.

Levy: R 1574.00 pm. Managed by Pal Property Management (011) 472 7226. 

Two-bedroom unit with additional two living areas. A separate bathroom consisting of a bath, basin and toilet as well as a nice spacious kitchen. The unit is equipped with a working geyser and has also been tiled. There is an open balcony.

The current owner is getting R 6 437 p.m. According to rental managers in the area a rental income of between R 6 400.00 pm and R 6 500.00 pm can be achieved, if the property is upgraded to their specifications. This tenant has an extremely great payment profile as this unit is managed by Mamela Estates.

The property is in a good condition but requires painting.  A detailed maintenance quote will be supplied to the successful buyer. 

No. According to the Body Corporate, 6 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 280 000.00 Bond at 10% =R 2 432.00 p.m.
Monthly Levy =R 1 574.00 p.m.
Rental Management fee (if applicable) =R 740.25 p.m.
Total R 4 746.25.00 p.m.


R 6 437.00 rental income – R 4 746.25 expenses = R 1 690.75 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 1 574.00 p.m.
Rental Management fee (if applicable) =R 740.25 p.m.
Total R 2 314.25 p.m.                      


R 6 437.00 rental income – R 2 314.25 expenses = R 4 122.75 Cashflow positive.

Gross Yield: 27.50% at R 4 637.00 rental income and R 280 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 4 Bruce Street, Joubert Park
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Joubert Park
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  • Property ID 885
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 2
  • Bathrooms 1
  • Size 122 Sqm
  • Label Invest
  • Number of flats in building: 96

Contact

Ian

Property Agent
reception@mamela.co.za
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