Full Title Building Ref 899

899

Property ID

495 Sqm

Size

Description

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

The selling price is negotiable.

There are electricity meters installed and the building is very well maintained and managed.

Number of flats in building: 9 Separate flats with 12 additional rooms and 9 parking bays.

Size: 495 sqm. (STAND)

Levy: The expenses of the block are as per September 2019:

  • Electricity                   (R 6 774.95 Recovered)
  • Water and Sanitation (R 17 897.62 Recovered)
  • Refuse Removal         R 1 831.95
  • Rates and Taxes         R 2 712.15
  • Salary                         R 6 845.74
  • Other                          R 768.50
  • Bank Charges             R 275.75

Total                                     R 12 434.09

A mixture of 3 spacious one-bedroom and 6 two-bedroom flats with their own bathrooms, kitchens and living areas. There are also 12 additional rooms in the building. 9 Parking bays are available to this building.

The owner is currently receiving R 46 482.00 p.m. As three apartments are vacant at the moment, R60 680.00 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 with minor touch-ups needed 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 0.77 km.
Yeoville Boys’ Primary School Schools Yeoville 0.41 km.
McDonalds Shops/ Entertainment Yeoville 0.52 km.

Calculation:

Purchase with Bond (50%):

 

R 2 750 000.00 Bond at 7.25% =R 10 868.00 p.m.
Monthly Expenses =R 12 434.09 p.m.
Rental Management fee (if applicable) =R 6 978.20 p.m.
Total R 30 280.29 p.m.                


R
60 680.00 rental income – R 30 280.29 expenses = R 30 399.71 Cashflow positive.

Purchase with Cash:

 

Monthly Expenses =R 12 434.09 p.m.
Rental Management fee (if applicable) =R 6 978.20 p.m.
Total R 19 412.29 p.m.                 


R 60 680.00 rental income – R 19 412.29 expenses = R 41 267.71 Cashflow positive.

Gross Yield: 26% at R 60 680.00 rental income and R 2 750 000.00 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 899
  • Property Type Full - Title
  • Property status Sold
  • Size 495 Sqm
  • Label Invest
  • Number of flats/rooms in building: 21

File Attachments

Full-Title-Building-Rent-Roll.-2.pdf Download

Contact

Ian

Property Agent
reception@mamela.co.za
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