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.
Description
Number of flats in building: 43.
Size: 82 sqm.
Levy R1420.00 pm. Gainsborough Mansions Body Corporate
Original one-bedroom unit. Separated Kitchen. Closed living area that can be utilised as a second bedroom. Separated Bathroom with a bath, basin and toilet.
The building is in good condition and the unit is newly renovated.
The current owner is getting R4 000.00 p.m. According to rental managers in the area a rental income of between R4 100.00 pm and R4 500.00 pm can be achieved, if the property is upgraded to their specifications.
The unit was recently renovated and is in a good condition.
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%):
- R 185 000.00 Bond at 7% =R 1 291.00 p.m.
- Monthly Levy =R 1420.00 p.m.
- Rental Management fee (if applicable) =R 460.00 p.m.
- Total =R 3 191.00 p.m.
R 4 000.00 rental income – R 3 191.00 expenses = R 809.00 Cash flow positive.
Purchase with Cash:
- Monthly Levy =R 1420.00 pm
- Rental Management fee (if applicable) =R 460.00 pm
- Total= R 1 900.00 pm
R 4 000.00 rental income – R 1 900.00 expenses = R 2 100.00 Cash-flow positive.
Gross Yield: 26% at R 4 000.00 rental income and R 185 000.00 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
- Property ID 956
- Property Type Sectional Title
- Property status Buy
- Rooms 1
- Bathrooms 1
- Size 82 Sqm
- Label R185 000.00
- Number of flats in building: 43
Contact
