Highrise is one of the sectional title blocks in Berea with exceptional potential. A great opportunity not to be missed!
Description
Size: 31 sqm.
Levy: R 738-33 pm.
This is a bachelor’s flat that consists of the following features; Separated bathroom with a toilet, basin and shower, Living Room utilized as bedroom and a open plan kitchen.
The unit is currently occupied and the tenant is paying R 1 200-00 p.m. (Totally undercharged) According to rental managers in the area the general rental income is between R 2 800-00 pm and R 3 500-00 p.m, if the property is upgraded to their specifications.
The unit is in fair condition and needs slight maintenance – a detailed maintenance quote will be sent to the successful buyer.
No, according to the body corporate 2 -3 people may reside in this unit.
Closest Amenities:
| Name | Type | Suburb | Distance |
| Primary School | Education | Berea | 0.29 km. |
| Police SAPS | Emergency | Hillbrow | 0.82 km. |
| Spar | Shops | Hillbrow | 0.39 km. |
Purchase with Bond (90%):
| R100 000-00 Bond at 8.25% | =R 767-00 p.m. |
| Monthly Levy | =R 738-33 p.m. |
| Rental Management fee (if applicable) | =R 345-00 p.m. |
| Total | R 1 850-33 p.m. |
R 3 000-00 rental income – R 1 850-33 expenses = R 1 149-67 Cash flow positive.
Purchase with Cash:
| Monthly Levy | =R 738-33 p.m. |
| Rental Management fee (if applicable) | =R 345-00 p.m. |
| Total | R 1 083-33 p.m. |
R 3 000-00 rental income – R 1 083-33 expenses = R 1 916-67 Cash flow positive.
Gross Yield: 36% at R 3 000-00 rental income and R 100 000-00 cash offer.
Address
Address:
15 Primrose Terrace, Berea
- Country: South Africa
- Province / State: Gauteng
- City / Town: Johannesburg
- Neighborhood: Berea
- Property ID 993
- Property Type Sectional Title
- Property status Buy
- Rooms 0.5
- Bedrooms 1
- Bathrooms 1
- Size 31 Sqm
- Label R100 000.00
- Number of flats in building: 443
Contact
