Federated place is a landmark building in the City of Johannesburg with great potential.
The building is fitted with CCTV security, manned security guards, working lifts and ample secure basement parking.
Audited financial statements are available, and the building is insured.
Sound investment!
Number of flats in building: 168
Size: 41
Levy: R 641.50 pm Managed by City Accommodations 011 720 5334.
Bachelor unit with a large living/bedroom area that has been subdivided into two sleeping stations with a bathroom that consist of a bath, basin and a toilet. There is a separate kitchen.
R 3 200.00 p.m. is currently paid to the owner. According to the body corporate and rental managers in the area a rental income of between R 3000.00 p.m. and R3 200.00 p.m. can be achieved, if the property is upgraded to their specifications. Mamela is managing similar properties in the same block for similar rentals.
The unit needs some maintenance like painting and windows to be replaced but is overall in good shape. A detailed maintenance quote will be supplied to the successful buyer.
No. According to the Body corporate 2 people may stay in the unit.
Closest Amenities:
|
Name |
Type |
Suburb |
Distance |
||||
|
Education | Berea |
0.26 km. |
||||
| Police SAPS – Hillbrow | Emergency Services | Berea |
0.81 km. |
||||
|
Shops | Berea |
0.37 km. |
Calculation:
Purchase with Bond (90%):
| R 140 000.00 Bond at 10.25 % | =R 1236.00 p.m. |
| Monthly Levy | =R 641.50 p.m. |
| Rental Management fee (if applicable) | =R 368. 00 p.m. |
| Total | R 2 245.50 p.m. |
R 3 200.00 rental income – R 2 245.50 expenses = R 954.50 Cashflow positive.
Purchase with Cash:
| Monthly Levy | =R 641.50 p.m. |
| Rental Management fee (if applicable) | =R 368.00 p.m. |
| Total | R 1009.50 p.m. |
R 3 200.00 rental income – R 1 009.50 expenses = R 2 190.50 Cashflow positive.
Gross Yield: 27.4 % at R 3 200.00 rental income and R 140 000.00 cash offer.
