Gainsborough Mansions Ref 956

956

Property ID

82 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: 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
  • TotalR 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
Open on Google Maps
  • 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

Ian

Property Agent
reception@mamela.co.za
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