Hyde Park Corner Ref 862

862

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 sqm.

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 receiving R 4 200.00 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. There is cosmetic maintenance that needs attention such as broken windows and door knobs that is missing.  The stove also needs attention. A detailed maintenance quote will be supplied to the successful investor.

Yes. According to the Body Corporate up to 4 people may reside in the unit.

Closest Amenities:

Name Type Suburb Distance    
Highpoint Shopping Centre Shopping Centre Joubert Park 0.35km.
Child Health Institute Medical Parktown 1.11 km.
Parktown Primary School Education Parktown 0.88 km.

Calculation:

Purchase with Bond (90%):

 

R 175 000 Bond at 10.25 % =R 1 546.00 p.m.
Monthly Levy =R 666.23 p.m.
Rental Management fee (if applicable) =R 517.50 p.m.
Total R 2 729.73 p.m.


R 4 500.00 rental income – R 2 729.73 expenses = R 1 770.27 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 666.23 p.m.
Rental Management fee (if applicable) =R 517.50 p.m.
Total R 1 183.73 p.m.                       


R 4 500.00 rental income – R 1 183.73 expenses = R 3 316.27 Cashflow positive.

Gross Yield: 30.8% at R 4 500.00 rental income and R 175 000.00 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: Joubert Park
  • Postal code / ZIP: 2198
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  • Property ID 862
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1
  • Bathrooms 1
  • Size 77 Sqm
  • Label Invest
  • Number of flats in building: 81

Contact

Ian

Property Agent
reception@mamela.co.za
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