Highrise Ref 994

Buy Reduced Price

994

Property ID

36 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: 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%):

 

R143 000.00 Bond at 8.25% =R 1 097.00 p.m.
Monthly Levy =R 986.24 p.m.
Rental Management fee (if applicable) =R 345.00 p.m.
Total R 2 428.24 p.m.


R 3 000.00 rental income – R 2 428.24 expenses = R 571.76 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: 25% at R 3 000.00 rental income and R 143 000.00 cash offer.

 

Address

Address: 15 Primrose Terrace, Berea
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Berea
Open on Google Maps
  • Property ID 994
  • Property Type Sectional Title
  • Property status Buy, Reduced Price
  • Rooms 0.5
  • Bedrooms 1
  • Bathrooms 1
  • Size 36 Sqm
  • Label R143 000.00
  • Number of flats in building: 443

Contact

Ian

Property Agent
reception@mamela.co.za
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