Highrise Ref 995

993

Property ID

31 Sqm

Size

1

Bedroom

1

Bathroom

Description

Highrise is one of the sectional title blocks in Berea with exceptional potential. A great opportunity not to be missed!

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
Open on Google Maps
  • 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

Ian

Property Agent
reception@mamela.co.za
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