Full Title Building Ref 970

970

Property ID

515 Sqm

Size

21

Bedrooms

21

Bathrooms

Description

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

Very well situated in close proximity to the Maboneng Precinct – Ideal location for students!

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

Number of flats in building: 21 en-suite Rooms in the building.

Size: 515 sqm. (STAND)

Levy: The expenses of the block are as per May 2021:

  • Electricity                          (R 5 850.33 Recovered)
  • Water                                (R 2 495.50 Recovered)
  • Refuse & Sewerage         (R 6 080.00 Recovered)
  • Electricity Common Area  (R 6 809.00 Recovered)
  • Rates and Taxes                R 2 122.24

Total                                        R 2 122.24

This Building consists of 21 rooms which differs in sizes.

The owner is currently receiving R 26 267.00 p.m. As one room is vacant at the moment, R 28 967.00 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, electrical meters are installed at each flat. A detailed maintenance quote will be supplied to the successful buyer.  

Closest Amenities:

 

Name Type Suburb Distance             
Caltex Filling Station Doornfontein 0.26 km.
Thebe Ya Bepheolo Healthcare Hospital Doornfontein 0.89 km.
Shopping Centre Shops/ Entertainment Doornfontein 0.41 km.

Calculation:

Purchase with Bond (50%):

 

R 1 995 000.00 Bond at 7.25% =R 7 884.00 p.m.
Levy =R 2 122.24 p.m.
Rental Management fee (if applicable) =R 3 331.21 p.m.
Total R 13 337.45 p.m.                


R
28 967.00 rental income – R 13 337.45 expenses = R 15 629.55 Cashflow positive.

Purchase with Cash:

 

Levy =R 2 122.24 p.m.
Rental Management fee (if applicable) =R 3 331.21 p.m.
Total R 5 453.45 p.m.                 

R 28 967.00 rental income – R 5 453.45 expenses = R 23 513.55 Cash Flow Positive 

Gross Yield: 17.42% at R 28 967.00 rental income and R 1995 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: Johannesburg, New Doornfontein
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
Open on Google Maps
  • Property ID 970
  • Property Type Full - Title
  • Property status Buy
  • Rooms 21
  • Bedrooms 21
  • Bathrooms 21
  • Size 515 Sqm
  • Label Invest, R1 995 000.00
  • Number of flats/rooms in building: 21

File Attachments

Full-Title-building-Rent-Roll-New-Doornfontein.pdf Download

Contact

Ian

Property Agent
reception@mamela.co.za
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