Highrise Ref 875

875

Property ID

36 Sqm

Size

1

Bathroom

Description

Highrise is one of the sectional title blocks in Berea with exceptional potential and is favoured amongst investors and residents.

The building is insured with CIA. The block is well managed and audited financials are available from the managing agent. There is also security at the building which is a great bonus.

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: 36 sqm.

Levy: R 883.38 pm. Managed by S.P.M (012) 010 0954. 

A bachelor unit with a bathroom consisting of a bath, basin and a toilet. There is an open plan kitchen and a spacious living/sleeping area and a nice open balcony. The unit is neatly tiled and has a working geyser.

The unit is currently vacant. According to rental managers in the area, a rental income of between R 2 500.00 p.m. and R 2 800.00 p.m. can be achieved, if the property is upgraded to their specifications.

The unit is in an average condition. General maintenance is required on this unit. A detailed maintenance quote will be supplied to the successful buyer. 

Yes. According to the Body Corporate 3 people may stay in the unit.

Closest Amenities:

 

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 110 000.00 Bond at 10.25 % =R 973.00 p.m.
Monthly Levy =R 883.38 p.m.
Rental Management fee (if applicable) =R 322.00 p.m.
Total R 2 178.38 p.m.                   


R 2 800.00 rental income – R 2 178.38 expenses = R 621.62 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 883.38 p.m.
Rental Management fee (if applicable) =R 322.00 p.m.
Total R 1 205.38 p.m.                     


R 2 800.00 rental income – R 1 205.38 expenses = R 1 594.62 Cashflow positive.

Gross Yield: 30.54% at R 2 800.00 rental income and R 110 000.00 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
Open on Google Maps
  • Property ID 875
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bathrooms 1
  • Size 36 Sqm
  • Label Invest
  • Number of flats in building: 443

Contact

Ian

Property Agent
reception@mamela.co.za
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