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.
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: 82 sqm.
Levy R2084.83 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 300.00 p.m. According to rental managers in the area a rental income of between R4 100.00 pm and R4 600.00 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 4 600.00 rental income – R 3 906.83 expenses = R 693.17 Cash flow positive.
Purchase with Cash:
R 4 600.00 rental income – R 2 613.83 expenses = R 1 986.17 Cash-flow positive.
Gross Yield: 31% at R 4 600.00 rental income and R 175 000.00 cash offer.