Highrise Ref 868

868

Property ID

49 Sqm

Size

1

Bedroom

1

Bathroom

Description

The Ultimate Sound Investment.

Highrise is one of the sectional title blocks in Berea with exceptional potential.

It is favoured amongst investors and residents.

The block is well managed and Mamela Estates is currently managing a number of flats for investments in this building.

A sound opportunity not to be missed!

Number of flats in building: 443.

Size: 49 sqm.

Levy: R 1 057.39 pm. Managed by S.P.M (012) 010 0954.

A spacious one-bedroom unit with a bathroom consisting of a bath, basin and a toilet. There is separate kitchen, living area and an open balcony. Security gate at the door.

The unit is currently collecting a rental of R 3 750.00 p.m. According to rental managers in the area, a rental income of between R 3 400.00 p.m. and R 3 750.00 p.m. can be achieved, if the property is upgraded to their specifications.  Mamela Estates is also managing a number of units in this building for similar rental amounts.

The unit is in an average condition. The cupboard doors and main door needs attention.  Some paintwork is needed. Leaking taps in the bathroom, some tiles are missing.  A detailed maintenance quote will be supplied to the successful buyer. 

Yes, according to the body corporate 5 people may reside in this unit.

 

Name Type Suburb Distance    
Eden Park Primary School Education Berea 0.43 km.
Brenthurst Clinic Emergency Service Parktown 0.96km.
Spar – Fontana Highpoint Shops Hillbrow 0.39 km.

 

Calculation:

Purchase with Bond (90%):

 

R 142 000.00 Bond at 10.25 % =R 1 255.00 p.m.
Monthly Levy =R 1 057.39 p.m.
Rental Management fee (if applicable) =R 431.25 p.m.
Total R 2 743.64 p.m.                   


R 3 750.00 rental income – R 2 743.64 expenses = R 1006.36 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 1 057.39 p.m.
Rental Management fee (if applicable) =R 431.25 p.m.
Total R 1 488.64 p.m.                     


R 3 750.00 rental income – R 1 488.64 expenses = R 2 261.36 Cashflow positive.

Gross Yield: 31.69% at R 3 750.00 rental income and R 142 000.00 cash offer.

 

 

Would you like to make an offer on this property?

Address

Address: 15 Primrose Terrace, Berea
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Berea
  • Postal code / ZIP: 2198
Open on Google Maps
  • Property ID 868
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1
  • Bathrooms 1
  • Size 49 Sqm
  • Label Invest
  • Number of flats in building: 443

Contact

Ian

Property Agent
reception@mamela.co.za
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