Hyde Park Corner Ref 905

905

Property ID

81 Sqm

Size

1

Bedroom

1

Bathroom

Description

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

The block is secured by means of biometric fingerprint access, as well as an on-board security guard.

There are audited financial statements available for 2018 – 2019 is currently being audited.

This is sound investment as Mamela is successfully managing many units in this block!

Number of flats in building: 81.

Size: 81 sqm.

Levy: R 1 534.84 pm. Managed by: City Accommodations (011) 720 5334.

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 prepaid electricity meter.

The owner is currently receiving R 4 460.00 p.m. According to the rental managers in the area a rental income between R 4 000.00 to R 4 500.00 p.m. can be achieved if the property is upgraded to their specifications.

The flat is in a fairly-good condition. There is some maintenance required such as refitting of wooden flooring, a new coat of paint and minor touch-us. A detailed maintenance quote will be supplied to the successful investor. 

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

Closest Amenities:

 

Name Type Suburb Distance    
SPAR Shopping Hillbrow 0.08 km.
Police SAPS Emergency Hillbrow 0.51 km.
Afro Koms College Education Joubert Park 0.31 km.

Calculation:

 

Purchase with Bond (90%):

 

R165 000.00 Bond at 7.25% =R 1 174.00 p.m.
Monthly Levy =R 1 534.84 p.m.
Rental Management fee (if applicable) =R 512.90 p.m.
Total R 3 221.74 p.m.


R 4 460.00 rental income – R 3 221.74 expenses = R 1 238.26 Cashflow positive.

 

Purchase with Cash:

 

Monthly Levy =R 1 534.84 p.m.
Rental Management fee (if applicable) =R 512.90 p.m.
Total R 2 047.74 p.m.                      


R 4 460.00 rental income – R 2 047.74 expenses = R 2 412.26 Cashflow positive.

Gross Yield: 32% at R 4 460.00 rental income and R 165 000.00 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: 2001
Open on Google Maps
  • Property ID 905
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1
  • Bathrooms 1
  • Size 81 Sqm
  • Label Invest
  • Number of flats in building: 81

Contact

Ian

Property Agent
reception@mamela.co.za
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