Highrise Ref 998

Buy Reduced Price

998

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 1618.04 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 occupied for R 3750.00. 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 good condition but 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%):

 

R150 000.00 Bond at 7% =R 1 108.00 p.m.
Monthly Levy =R 1 618.04 p.m.
Rental Management fee (if applicable) =R 431.25 p.m.
Total R 3 157.29 p.m.


R 3 750.00 rental income – R 3 157.29 expenses = R 592.71 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 1 618.04 p.m.
Rental Management fee (if applicable) =R 431.25 p.m.
Total R 2 049.29 p.m.

R 3 750.00 rental income – R 2 049.29 expenses = R 1 700.71 Cashflow positive.

 

Gross Yield: 30% at R 3 750.00 rental income and R 150 000.00 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 998
  • Property Type Sectional Title
  • Property status Buy, Reduced Price
  • Rooms 0.5
  • Bedrooms 1
  • Bathrooms 1
  • Size 49 Sqm
  • Label R150 000.00
  • Number of flats in building: 443

Contact

Ian

Property Agent
reception@mamela.co.za
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