Federated Place Ref 909

909

Property ID

55 Sqm

Size

1

Bedroom

1

Bathroom

Description

Federated Place is a well-known building located in Berea. This area is a favourite amongst investors and tenants.

Mamela is currently managing numerous units in the building and our investors are getting great return on their acquisitions.

This is an opportunity not to be missed!

Number of flats in building: 168.

Size: 55 sqm.

Levy: R 837.23.00 pm. City Accommodations (011) 720 5334

Original one-bedroom unit with built-in cupboards. The flat has a bathroom consisting of a bath, basin and toilet. There is a separate kitchen that is neatly tiled and painted. The living area is very spacious and also neatly painted. There is no geyser.

The unit is currently tenanted. According to rental managers in the area a rental income of between R3 500.00 pm and R4 000.00 pm can be achieved, if the property is upgraded to their specifications.

The unit is in a fairly good condition and requires general touch-ups. A detailed maintenance quote will be supplied to the successful buyer.

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

Closest Amenities:

 

Name Type Suburb Distance      
Police SAPS Emergency Hillbrow 0.81 km.
SPAR Shops Hillbrow 0.37 km.
Afro Kombs College Education Hillbrow 0.39 km.

 

 

Calculation:

 

Purchase with Bond (90%):

 

R190 000.00 Bond at 7% =R 1 326.00 p.m.
Monthly Levy =R 837.23 p.m.
Rental Management fee (if applicable) =R 460.00 p.m.
Total R 2 553.23 p.m.


R 4 000.00 rental income – R 2 623.23 expenses = R 1 376.77 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 837.23 p.m.
Rental Management fee (if applicable) =R 460.00 p.m.
Total R 1 297.23 p.m.                      


R 4 000.00 rental income – R 1 297.23 expenses = R 2 701.77 Cashflow positive.

 

Gross Yield: 25% at R 4 000.00 rental income and R 190 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 10 O'reilly Road, Berea
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Berea
Open on Google Maps
  • Property ID 909
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1
  • Bathrooms 1
  • Size 55 Sqm
  • Label Invest
  • Number of flats in building: 168

Contact

Ian

Property Agent
reception@mamela.co.za
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