Highrise Ref 921

921

Property ID

31 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.

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.

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 921
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bathrooms 1
  • Size 31 Sqm
  • Label R110 000.00
  • Number of flats in building: 96

Contact

Ian

Property Agent
reception@mamela.co.za
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