Full Title Building Ref 886

886

Property ID

398 Sqm

Size

Description

An opportunity not to be missed.  This is a perfect investment for the investor who would like to purchase a full title building.

The selling price is negotiable.

There is a biometrics system installed at the building as well as electricity meters from Netvendor. The rooftop water consumption is metered separately through water meters as well.

Number of flats in the building: 15 Separate flats with 6 additional rooms and 10 parking bays.

  • Electricity: (R 7 946.39 Recovered)
  • Water and Sanitation (R 13 126.03 Recovered)
  • Rates: R 3 628.47
  • Salary R 3 980.00
  • Insurance R 1 695.00
  • Meter Reading R 370.00
  • Cleaning Materials R 750.00
  • Pest Control R 325.00
  • Fire Service R 152.00
  • Workman’s Compensation R 85.00

Total                                          R 10 985.47

A mixture of 12 spacious one-bedroom and 3 two-bedroom flats with their own bathrooms, kitchens and living areas. There are also 6 additional rooms in the building. 10 Parking bays are available to this building.

As per the March 2020 rent-roll, the owner received R54 031.30 rental. Due to the COVID-19 epidemic, vacant units are not allowed to be filled and debt collection is sensitively dealt with. R88 864.30.00 p.m. can be achieved if the building is fully occupied and the property is upgraded to their specifications. Currently, Mamela is successfully managing similar blocks and we are capable to manage this block as well. Please click here for a detailed Rent roll.

The block is in a good condition and almost fully let, pre-paid electrical meters are installed at each flat. A detailed maintenance quote will be supplied to the successful buyer.  

Closest Amenities:

 

Name Type Suburb Distance             
Fire Station Emergency Services Berea 1.64 km.
Yeoville Boys’ Primary School Schools Yeoville 0.31 km.
Eze Joes Supermarket Shops/ Entertainment Yeoville 0.13 km.

Calculation:

Purchase with Bond (50%):

 

R 4 500 000.00 Bond at 7.25% =R 17 783.00 p.m.
Monthly Levy =R 10 985.47 p.m.
Rental Management fee (if applicable) =R 10 219.39 p.m.
Total R 38 987.86 p.m.                


R
88 864.30 rental income – R 38 987.86 expenses = R 49 876.44 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 10 985.47 p.m.
Rental Management fee (if applicable) =R 10 219.39 p.m.
Total R 21 204.86 p.m.                 


R 88 864.30 rental income – R 21 204.86 expenses = R 67 659.44 Cashflow positive.

Gross Yield: 23.69% at R 88 864.30 rental income and R 4 500 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: Johannesburg
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
Open on Google Maps
  • Property ID 886
  • Property Type Full - Title
  • Property status Sold
  • Size 398 Sqm
  • Label Invest
  • Number of flats/rooms in building: 21

File Attachments

Rent-Roll..pdf Download

Contact

Ian

Property Agent
reception@mamela.co.za
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