Highrise Ref 947

947

Property ID

36 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: 36 sqm.

Levy: R 859.03 pm.

A original bachelor unit with a separate bathroom. There is a separate kitchen with built in cupboards.

The current owner is receiving R2760.00 p/m. According to rental managers in the area the general rental income is between R2700.00 pm and R2900.00 p/m, if the property is upgraded to their specifications.

The unit is in a good condition with general maintenance touch-ups required. 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    
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%):

 

R115 000.00 Bond at 7% =R 802.00 p.m.
Monthly Levy =R 859.03 p.m.
Rental Management fee (if applicable) =R 317.40 p.m.
Total R 1 978.43 p.m.


R 2 760.00 rental income – R 1 978.43 expenses = R 781.57 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 859.00 p.m.
Rental Management fee (if applicable) =R 317.40 p.m.
Total R 1 176.40 p.m.                      


R 2 760.00 rental income – R 1 176.40 expenses = R 1583.60 Cashflow positive.

 

Gross Yield: 28.8% at R 2 760.00 rental income and R 115 000.00 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 947
  • Property Type Sectional Title
  • Property status Under Offer
  • Rooms 0.5
  • Bedrooms 0.5
  • Bathrooms 1
  • Size 36 Sqm
  • Number of flats in building: 443

Contact

Ian

Property Agent
reception@mamela.co.za
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