Highrise Ref 939

939

Property ID

31 Sqm

Size

0.5

Bedrooms

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 738.33 pm.

A original bachelor unit with a separate bathroom consisting of a bath, toilet and basin. There is a separate kitchen with built in cupboards and a working geyser.

The current owner is receiving R2000.00 p/m. According to rental managers in the area the general rental income is between R2300.00 pm and R2500.00 p/m, if the property is upgraded to their specifications.

The unit is in a good condition with general maintenance touch-ups required. The A detailed maintenance quote will be supplied to the successful buyer.

No. According to the Body Corporate, 4 people may reside in the unit. 

Closest Amenities:

 

Name Type Suburb Distance    
Thembekile Primary School Education Berea 0.29 km.
Police SAPS Emergency Service Hillbrow 0.82 km.
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 738.33 p.m.
Rental Management fee (if applicable) =R 230.00 p.m.
Total R 1 736.33 p.m.


R 2 800.00 rental income – R 1736.33 expenses = R 1063.67 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 733.00 p.m.
Rental Management fee (if applicable) =R 230.00 p.m.
Total R 963.00 p.m.                      


R 2 800.00 rental income – R 963.00 expenses = R 1837.00 Cashflow positive.

 

Gross Yield: 30% 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 939
  • Property Type Sectional Title
  • Property status Under Offer
  • Rooms 0.5
  • Bedrooms 0.5
  • Bathrooms 1
  • Size 31 Sqm
  • Number of flats in building: 443

Contact

Ian

Property Agent
reception@mamela.co.za
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