Hyde Park Corner 854

854

Property ID

77 Sqm

Size

1

Bedroom

1

Bathroom

Description

Hyde Park Corner is centrally located in Hillbrow close to the major BRT systems and the main Gautrain station.

The block is secured by means of a fingerprint scan turnstyle access system, as well as an on board security guard.

The building managers and trustees are tremendously vigilant that the financial management of the building is running as smooth as possible.

The building is insured.

A sound investment indeed!

Number of flats in building: 81

Size: 77

Levy: R 666.23 pm. Managed by Take Shape Prop Management 011 492 0330.

A spacious one bedroom flat with one bathroom consisting of a bath, basin and toilet. It has a spacious living area that has been subdivided into three sleeping stations. There is a separate kitchen and an open balcony. The unit is equipped with a burglar gate and has prepaid meters.

The unit is currently tenanted, and the owner is received R 4 581.00 p.m. for rental. Mamela Estates is also managing similar units at the building for a market related rental of R 4 000.00. According to rental managers in the area a rental income of between R 4 000.00 p.m. and R 4 500.00 p.m. can be achieved, if the property is upgraded to their specifications. 

The flat is in a good condition but a coat of paint is needed, especially in the bathroom and kitchen. The kitchen tap needs attention.  A detailed maintenance quote will be supplied to the successful investor. 

Yes. According to the Body Corporate 6 people may reside in the unit. 

Closest Amenities:

Name

Type

Suburb

Distance

Parktown Primary School Education Parktown

0.88 km.

Highpoint Shopping Centre Shopping Centre Joubert Park

0.35 km.

Child Health Institute Medical Parktown

0.88 km.

Calculation:

Purchase with Bond (90%):

  • R 170 000.00 Bond at 10.00 % =R 1 476.00 p.m.
  • Monthly Levy =R 666.23 p.m.
  • Rental Management fee (if applicable) =R 517.50 p.m.
  • Total =R 2 659.73 p.m.

 

R 4 500.00 rental income – R 2 659.73 expenses = R 1 840.27 Cash flow positive.

Purchase with Cash:

  • Monthly Levy =R 666.23 pm
  • Rental Management fee (if applicable) =R 517.50 pm
  • Total = R 1 183.73 pm


R 4 500.00 rental income – R 1 183.73 expenses = R 3 316.27 Cash-flow positive.

Gross Yield: 31.7% at R 4 500.00 rental income and R 170 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 121 Banket Street, Joubert Park
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Hillbrow
  • Postal code / ZIP: 2198
Open on Google Maps
  • Property ID 854
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1
  • Bathrooms 1
  • Size 77 Sqm
  • Land area 4,994 SqFt
  • Label Invest
  • Number of flats in building: 81

Contact

Ian

Property Agent
reception@mamela.co.za
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