Da Gama Court 857

857

Property ID

74 Sqm

Size

1

Bedroom

1

Bathroom

Description

Price Reduced by owner, motivated to sell!

Da Gama Court is centrally located near bus routes, Brenthurst Clinic and a Shopping Complex. The lifts are working and there is 24-hour security.

This block is popular with investors.

The building boasts of audited financial statements and it’s also insured.

Mamela is currently managing several units in the building and the investors are getting great returns on their acquisitions.

An opportunity not to be missed.

Number of flats in building: 72

Size: 74

Levy: R 830.05 pm. Letcor Property Management 011 403 0701.

Spacious one bedroom flat with a separate kitchen, open balcony, separate bathroom that consists of a bath, basin and toilet. It has two living areas and one has been subdivided into three sleeping stations.

The owner is currently receiving R 4 500.00 p.m. According to the rental managers in the area a rental income between R 4 300.00 to R 4 500 p.m. can be achieved, if the property is upgraded to their specifications.

Mamela is currently successfully managing this unit.

The property is in a good condition but some areas needs to be repainted and there’s a cracked door glass that needs replacement, a detailed maintenance quote will be supplied to the successful buyer.

Yes. According to the Body Corporate 4 people may reside in the unit. 

Closest Amenities:

Name

Type

Suburb

Distance

Afro Kombs College Education Joubert Park

0.30 km.

Spar Shops Hillbrow

0.14 km.

Police SAPS Emergency Services Hillbrow

0.32 km.

Calculation:

Purchase with Bond (90%):

  • R 195 000.00 Bond at 10.00 % =R 1 693.00 p.m.
  • Monthly Levy =R 830.05 p.m.
  • Rental Management fee (if applicable) =R 517.50 p.m.
  • Total =R 3 040.55 p.m.

 

R 4 500.00 rental income – R 3 127.55 expenses = R 1 459.45 Cash flow positive.

Purchase with Cash:

  • Monthly Levy =R 830.05 pm
  • Rental Management fee (if applicable) =R 517.50 pm
  • Total = R 1 347.55 pm


R 4 500.00 rental income – R 1 347.55 expenses = R 3 152.45 Cash-flow positive.

Gross Yield: 27.6% at R 4 500.00 rental income and R 195 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 16 Caroline Street, Joubert Park
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Hillbrow
  • Postal code / ZIP: 2198
Open on Google Maps
  • Property ID 857
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1
  • Bathrooms 1
  • Size 74 Sqm
  • Land area 5,177 SqFt
  • Label Invest
  • Number of flats in building: 72

Contact

Ian

Property Agent
reception@mamela.co.za
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