Clarendon Heights Ref 902

Sold
4 Bruce Street, Joubert Park

902

Property ID

88 Sqm

Size

1

Bedroom

1

Bathroom

Clarendon Heights Ref 902
Clarendon Heights Ref 902
Clarendon Heights Ref 902
Clarendon Heights Ref 902
Clarendon Heights Ref 902
Clarendon Heights Ref 902
Clarendon Heights Ref 902
Clarendon Heights Ref 902
Clarendon Heights Ref 902
Clarendon Heights Ref 902
Clarendon Heights Ref 902
Clarendon Heights Ref 902
Clarendon Heights Ref 902
Clarendon Heights Ref 902
Clarendon Heights Ref 902
Clarendon Heights Ref 902
Clarendon Heights Ref 902
Clarendon Heights Ref 902

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 building is insured. 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.

Standard Information

Number of flats in building: 96.

Size: 88 sqm.

Levy: R 1 188.25 pm. PAL Property Management (011) 472 7226

Specifications

Original one-bedroom unit. The flat has a bathroom consisting of a bath, basin and toilet. There are two living areas divided into three sleeping stations. The unit is carpeted, and the kitchen has a nice sturdy wooden basin. There is an open balcony.

Rent

The current owner is receiving R4 850.00 p.m. as they are renting to family. According to rental managers in the area a rental income of between R4 700.00 pm and R4 900.00 pm can be achieved, if the property is upgraded to their specifications.

Maintenance

The unit is not in a good condition and requires a toilet seat, new shelving and basin requires repairment. There are broken windows and the balcony door is not working. There is no geyser in the unit. There is electrical work required. A detailed maintenance quote will be supplied to the successful buyer.

Sub-dividable

No. According to the Body Corporate, 4 people may reside in the unit. 

Closest Amenities

Closest Amenities:

 

Name Type Suburb Distance      
Police – SAPS Emergency Hillbrow 0.34 km.
Engen Services Hillbrow 0.23 km.
SPAR Shops Hillbrow 0.16 km.

Calculations

Calculation:

Purchase with Bond (90%): (Rental of R 4850.00)

 

R 176 000.00 Bond at 9.75% =R 1 502.00 p.m.
Monthly Levy =R 1 188.25 p.m.
Rental Management fee (if applicable) =R 557.75 p.m.
Total R 3 248.00 p.m.


R 4 850.00 rental income – R 3 248.00 expenses = R 1 602.00 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 1 188.25 p.m.
Rental Management fee (if applicable) =R 557.75 p.m.
Total R 1 746.00 p.m.                      


R 4 850.00 rental income – R 1 746.00 expenses = R 3 104.00 Cashflow positive.

Gross Yield: 33% at R 4 850.00 rental income and R 176 000.00 cash offer.

Would you like to make an offer on this property?

MAKE AN OFFER

Address

Address: 4 Bruce Street, Joubert Park
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Joubert Park
Open on Google Maps
  • Property ID 902
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1
  • Bathrooms 1
  • Size 88 Sqm
  • Label Invest
  • Number of flats in building: 96

Contact

Ian

Ian

Property Agent
reception@mamela.co.za
Other Properties
March 13, 2020 6,344 views

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