Clarendon Heights Ref 917

917

Property ID

87 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 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 excellent management.

Number of flats in building: 96.

Size: 87 sqm.

Levy: R 1 186.35 pm. PAL Property Management (011) 472 7226

Original one-bedroom unit. The apartment has a separate bathroom consisting of a bath, basin and toilet. The kitchen is also separated with built in cupboard. The unit has a spacious living area utilized as three sleeping stations. There is an open balcony and pre-paid electricity.

The current owner is receiving R4 800.00 p/m. According to rental managers in the area a rental income of between R4 500.00 pm and R4 900.00 p/m can be achieved, if the property is upgraded to their specifications.

The unit is not in the best condition with a full coat of paint needed and maintenance such as new door handles, electrical, plumbing and tiling. 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      
Police – SAPS Emergency Hillbrow 0.34 km.
Engen Services Hillbrow 0.23 km.
SPAR Shops Hillbrow 0.16 km.

Calculation:

 

Purchase with Bond (90%):

 

R200 000.00 Bond at 7% =R 1 396.00 p.m.
Monthly Levy =R 1 186.35 p.m.
Rental Management fee (if applicable) =R 552.00 p.m.
Total R 3 134.35 p.m.


R 4 800.00 rental income – R 3 133.35 expenses = R 1 665.65 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 1 186.35 p.m.
Rental Management fee (if applicable) =R 552.00 p.m.
Total R 1 738.35 p.m.                      


R 4 800.00 rental income – R 1 738.35 expenses = R 3 061.65 Cashflow positive.

 

Gross Yield: 28.8% at R 4 800.00 rental income and R 200 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 6 Bruce Street, Joubert Park
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Joubert Park
Open on Google Maps
  • Property ID 917
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1
  • Bathrooms 1
  • Size 87 Sqm
  • Number of flats in building: 96

Contact

Ian

Property Agent
reception@mamela.co.za
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