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: 36 sqm.
Levy: R 986.24 pm.
A original bachelor unit with a separate bathroom with a bath, basin and toilet. There is a separate kitchen with built in cupboards and a big lounge area.
The unit is currently vacant. According to rental managers in the area the general rental income is between R 2800.00 pm and R 3000.00 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%):
| R130 000.00 Bond at 7% | =R 907.00 p.m. |
| Monthly Levy | =R 986.24 p.m. |
| Rental Management fee (if applicable) | =R 345.00 p.m. |
| Total | R 2 238.24 p.m. |
R 3 000.00 rental income – R 2 238.24 expenses = R 761.76 Cashflow positive.
Purchase with Cash:
| Monthly Levy | =R 986.24 p.m. |
| Rental Management fee (if applicable) | =R 345.00 p.m. |
| Total | R 1 331.24 |
R 3 000.00 rental income – R 1 331.24 expenses = R 1 668.76 Cashflow positive.
Gross Yield: 27% at R 3 000.00 rental income and R 130 000.00 cash offer.
