Gainsborough Mansions Ref 896

896

Property ID

78 Sqm

Size

1

Bathroom

Description

Great Investment opportunity! Gainsborough Mansions is located on Primrose Terrace in Berea.

This area is a favourite amongst investors and tenants. Our investors are getting great return on their acquisitions.

On opportunity not to be missed.

Number of flats in building: 43.

Size: 78 sqm.

Levy: R 1 353.00 pm. Angor Property Specialists (086 042 6467)

Original one-bedroom unit. The flat has a bathroom consisting of a shower, basin and toilet. There is a separated kitchen and living room.

The current owner is getting R4 120.00 p.m. According to rental managers in the area a rental income of between R4 100.00 pm and R4 300.00 pm can be achieved, if the property is upgraded to their specifications.

The unit requires definite maintenance. 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 0.77 km.
McDonalds Shops Hillbrow 0.57 km.
Afro Kombs College Education Yeoville 0.60 km.

Calculation:

Purchase with Bond (90%):

 

R150 000.00 Bond at 9.75% =R 1 280.00 p.m.
Monthly Levy =R 1 353.00 p.m.
Rental Management fee (if applicable) =R 473.80 p.m.
Total R 3 106.80 p.m.


R 4 120.00 rental income – R 3 106.80 expenses = R 1 013.20 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 1 353.00 p.m.
Rental Management fee (if applicable) =R 473.80 p.m.
Total R 1 826.80 p.m.                      


R 4 120.00 rental income – R 1 826.80 expenses = R 2 293.20 Cashflow positive.

Gross Yield: 32% at R 4 120.00 rental income and R 150 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 1 Primrose Terrace, Berea
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Berea
Open on Google Maps
  • Property ID 896
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bathrooms 1
  • Size 78 Sqm
  • Label Invest
  • Number of flats in building: 43

Contact

Ian

Property Agent
reception@mamela.co.za
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