Issmin Towers Ref 843

843

Property ID

76 Sqm

Size

1

Bedroom

1

Bathroom

Description

Issmin Towers is centrally located in Joubert Park. There COJ accounts is up to date.

The building boasts of audited financial statements and the lifts are working.

There is security in the complex and the building is also insured.

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

Bargain Property!

Number of flats in building: 42.

Size: 76sqm.

Levy: R 490.19 Managed by Issmin Towers Body Corporate. (011) 642 0652

A spacious one bedroom flat with one bathroom consisting of a bath, basin and toilet. It has a living area which has been subdivided into three sleeping areas. There is a separate kitchen and a closed balcony.

 

The owner is currently receiving a rental amount of R 4 230.00 p.m. According to rental managers in the area a rental income of between R 4 230.00 p.m. and R 4 300.00 p.m. can be achieved if the property is upgraded to their specifications.

Mamela is currently successfully managing properties in the scheme.

The unit is in a fair condition, with a working geyser, general cosmetic maintenance will be required. A detailed maintenance quote will be provided to the successful purchaser. 

Yes. According to the Body corporate 4 people may stay in the unit.

Closest Amenities:

Name

Type

Suburb

Distance

Nandos Shops Hillbrow

0.13 km.

Police SAPS Emergency Hillbrow

0.26 km.

Afro Kombs College Education Hillbrow

0.20 km.

Calculation:

Purchase with Bond (90%):

  • R 197 000.00 Bond at 10.00 % =R 1710.98 p.m.
  • Monthly Levy =R 490.19 p.m.
  • Rental Management fee (if applicable) =R 494.50 p.m.
  • Total =R 2695.67 p.m.

 

R 4300.00 rental income – R 2695.67 expenses = R 1604.33 Cash flow positive.

Purchase with Cash:

  • Monthly Levy =R 490.19 pm
  • Rental Management fee (if applicable) =R 494.50 pm
  • Total = R984.69 pm


R 4300.00 rental income – R 984.69 expenses = R 3315.31 Cash-flow positive.

Gross Yield: 26.1% at R 4300.00 rental income and R 197 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 118 Twist Street, Hillbrow
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Hillbrow
  • Postal code / ZIP: 2198
Open on Google Maps
  • Property ID 843
  • Property Type Sectional Title
  • Property status Sold
  • Bedrooms 1
  • Bathrooms 1
  • Size 76 Sqm
  • Land area 4,984 SqFt
  • Label Invest
  • Number of flats in building: 42

Contact

Ian

Property Agent
reception@mamela.co.za
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