Highrise is one of the sectional title blocks in Berea with exceptional potential and is favoured amongst investors and residents.
There is 24/7 security at the building and working lifts.
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: 31 sqm.
Levy: R 847.87 pm. Managed by S.P.M (012) 010 0954.
A bachelor unit with a separate bathroom consisting of a bath, basin and toilet. There is a separate kitchen and a living area utilized as a sleeping station.
The unit is currently vacant. According to rental managers in the area a rental income of between R2 500.00 pm and R2 900.00 p/m can be achieved, if the property is upgraded to their specifications.
The unit is not in a good condition with a definite maintenance upgrade required. The unit requires painting, plumbing, electrical and general maintenance touch-ups. The A detailed maintenance quote will be supplied to the successful buyer.
No, according to the body corporate 4 people may reside in this 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%):
| R110 000.00 Bond at 7% | =R 768.00 p.m. |
| Monthly Levy | =R 847.87 p.m. |
| Rental Management fee (if applicable) | =R 287.50 p.m. |
| Total | R 1 903.37 p.m. |
R 2 500.00 rental income – R 1 903.37 expenses = R 596.63 Cashflow positive.
Purchase with Cash:
| Monthly Levy | =R 847.87 p.m. |
| Rental Management fee (if applicable) | =R 287.50 p.m. |
| Total | R 1 135.37 p.m. |
R 2 500.00 rental income – R 1 135.37 expenses = R 1 364.63 Cashflow positive.
Gross Yield: 27% at R 2 500.00 rental income and R 110 000.00 cash offer.
