Clarendon Heights Ref 920

920

Property ID

122 Sqm

Size

2

Bedrooms

1.5

Bathrooms

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.

Number of flats in building: 96.

Size: 122 sqm.

Levy: R 1 573.07 pm. PAL Property Management (011) 472 7226

Original two-bedroom unit. The apartment has a separate toilet and an additional bathroom consisting of a bath and basin. The kitchen is also separated with built in cupboards. The unit has a spacious living area utilized as two additional sleeping stations. There is open balcony.

The current tenants have been given notice to vacate the property. According to rental managers in the area a rental income of between R6 000.00 pm and R6 300.00 p/m can be achieved, if the property is upgraded to their specifications. Mamela Estates successfully manages similar units in the same block for this rental received.

The unit is a bad condition with a full coat of paint, electrical, plumbing and general maintenance touch-ups required. 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%):

 

R240 000.00 Bond at 7% =R 1 625.00 p.m.
Monthly Levy =R 1 573.07 p.m.
Rental Management fee (if applicable) =R 690.00 p.m.
Total R 3 888.07 p.m.


R 6 000.00 rental income – R 3 888.07 expenses = R 2 111.93 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 1 573.07 p.m.
Rental Management fee (if applicable) =R 690.00 p.m.
Total R 2 263.07 p.m.                      


R 6 000.00 rental income – R 2 263.07 expenses = R 3 736.93 Cashflow positive.

 

Gross Yield: 30% at R 6 000.00 rental income and R 240 000.00 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
Open on Google Maps
  • Property ID 920
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 2
  • Bathrooms 1.5
  • Size 122 Sqm
  • Label Invest
  • Number of flats in building: 96

Contact

Ian

Property Agent
reception@mamela.co.za
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