Honey Heights Ref 915

915

Property ID

62 Sqm

Size

1

Bedroom

1

Bathroom

Description

Due to the great and busy location of Berea, Honey Heights is a very popular building.

Honey Heights is situated near amenities such as SAPS, NETCARE Rand Hospital and many more.

Good location, great price, this is definitely a sound investment.

Number of flats in building: 28.

Size: 62 sqm.

Levy: R 984.29 pm. Zulberg Property Management (011) 786 1119.

Original one-bedroom unit. The apartment has a separate bathroom consisting of a bath, basin and toilet. The kitchen is also separate with built-in cupboards and is neatly tiled. There is a spacious living area and an open balcony.

The unit is currently vacant. According to rental managers in the area a rental income of between R4 200.00 pm and R4 400.00 p/m can be achieved, if the property is upgraded to their specifications.

The unit is in a very good condition with minor maintenance touch-ups required. We do not foresee any major maintenance needed at this unit anytime soon.

No. According to the Body Corporate, 4 people may reside in the unit. 

Closest Amenities:

 

Name Type Suburb Distance      
Nando’s Shops Yeoville 0.69 km.
Fire Station Emergency Berea 0.37 km.
Police SAPS Services Yeoville 0.85 km.

 

Calculation:

 

Purchase with Bond (90%):

 

R220 000.00 Bond at 7% =R 1 535.00 p.m.
Monthly Levy =R 984.29 p.m.
Rental Management fee (if applicable) =R 506.00 p.m.
Total R 3 025.29 p.m.


R 4 400.00 rental income – R 3 025.29 expenses = R 1 374.71 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 984.29 p.m.
Rental Management fee (if applicable) =R 506.00 p.m.
Total R 1 490.29 p.m.                      


R 4 400.00 rental income – R 1 490.29 expenses = R 2 909.71 Cashflow positive.

 

Gross Yield: 24% at R 4 400.00 rental income and R 220 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 56 Honey Street, Berea
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Berea
Open on Google Maps
  • Property ID 915
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1
  • Bathrooms 1
  • Size 62 Sqm
  • Number of flats in building: 28

Contact

Ian

Property Agent
reception@mamela.co.za
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