Full Title House Ref 978

978

Property ID

248 Sqm

Size

4

Bedrooms

4

Bathrooms

Description

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

Very well situated in Jeppestown close proximity to the Maboneng Precinct.

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

Number of flats in building: 4 Rooms in the House

Size: 248 sqm. (STAND)

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

  • Electricity                          (R    800.00 Recovered)
  • Water                                (R 1 600.00 Recovered)
  • Refuse & Sewerage         (R    230.00 Recovered)
  • Rates and Taxes              (R    460.00)

Total                                        R 460.00

This Building consists of 4 rooms, 2x 2 Bedroom units and 2x 1 Bedroom units

There is a communal kitchen and two separate bathrooms with a bath, toilet and a basin.

R 10 400.00 p.m. to R 12 800.00 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. electrical meters are installed at each flat. A detailed maintenance quote will be supplied to the successful buyer.  

Closest Amenities:

 

Name Type Suburb Distance             
Engen Filling Station Jeppestown 0.45 km.
Life Healthcare New Kensington Hospital Jeppestown 0.59 km.
Jozi Mall Shops/ Entertainment Jeppestown 1.2   km.

Calculation:

Purchase with Bond (50%):

 

R 340 000.00 Bond at 7.25% =R 2 687.00 p.m.
Rates & Taxes =R 460.00 p.m.
Rental Management fee (if applicable) =R 1 196.00 p.m.
Total R 4 343.00 p.m.                


R
10 400.00 rental income – R 4 343.00 expenses = R 6 057.00 Cashflow positive.

Purchase with Cash:

 

Rates & Taxes =R 460.00 p.m.
Rental Management fee (if applicable) =R 1 196.00 p.m.
Total R 1 656.00 p.m.                 

R 10 400.00 rental income – R 1 656.00 expenses = R 8 744.00 Cash Flow Positive 

Gross Yield: 18.35% at R 10 400.00 rental income and R 680 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: Johannesburg, Jeppestown
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
Open on Google Maps
  • Property ID 978
  • Property Type Full - Title
  • Property status Buy
  • Rooms 4
  • Bedrooms 4
  • Bathrooms 4
  • Size 248 Sqm
  • Label Invest, R680 000.00
  • Number of flats/rooms in building: 4

File Attachments

Fawcus-Rental-Income.pdf Download

Contact

Ian

Property Agent
reception@mamela.co.za
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