Highrise Ref 993

993

Property ID

49 Sqm

Size

1

Bedroom

1

Bathroom

Description

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

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: 49 sqm.

Levy: R 1173.00 pm.

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

The unit is currently occupied for R3 300.00  According to rental managers in the area the general rental income is between R 2800.00 pm and R 3500.00 p/m, if the property is upgraded to their specifications.

The unit is in fair condition and needs slight maintenance. a detailed quote will be sent 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%):

 

R160 000.00 Bond at 7% =R 1116.00 p.m.
Monthly Levy =R 1173.00 p.m.
Rental Management fee (if applicable) =R 379.50 p.m.
Total R 2 355.50 p.m.


R 3 300.00 rental income – R 2 355.50 expenses = R 944.50Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 1173.00 p.m.
Rental Management fee (if applicable) =R 379.50 p.m.
Total R 1 552.50 p.m.                      


R 3 300.00 rental income – R 1 552.50 expenses = R 1 747.50 Cashflow positive.

 

Gross Yield: 25% at R 3 300.00 rental income and R 160 000.00 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 993
  • Property Type Sectional Title
  • Property status Buy
  • Rooms 0.5
  • Bedrooms 1
  • Bathrooms 1
  • Size 49 Sqm
  • Label R160 000.00
  • Number of flats in building: 443

Contact

Ian

Property Agent
reception@mamela.co.za
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