Lofts @ 66 Ref 974

974

Property ID

58 Sqm

Size

1

Bedroom

1

Bathroom

Description

Lofts 66 is a well-known building located in Johannesburg center . This area is a favourite amongst investors and tenants.

Mamela is currently managing numerous units in the building and our investors are getting great return on their acquisitions.

This is an opportunity not to be missed!

Size: 58 sqm.

Levy: R 1 771.00 pm.

It’s a one bedroom apartment consists of the followings:-

Separated Bathroom with a bath, basin and toilet with a Geyser, Separated Bedroom , Living Room mixed with kitchen

The unit is currently occupied for R 3000.00 per month but the potential rent for such a unit can go up to R4 500.00

According to rental managers in the area a rental income of between R3 000.00 pm and R 4 500.00 pm can be achieved, if the property is upgraded to their specifications.

This unit needs slight maintenance such as touch-ups and painting.

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

Name Type Suburb Distance      
Shopping centre Shops JHB CBD 0.17 km.
Saint Enda’s Secondary School Education JHB CBD 0.37 km.
Police SAPS – Bank City Emergency Services JHB CBD 0.94 km.

Calculation:

 

Purchase with Bond (90%):

 

R250 000.00 Bond at 7% =R 1 744.00 p.m.
Monthly Levy =R 1 771.00 p.m.
Rental Management fee (if applicable) =R 517.50 p.m.
Total R 4 032.50 p.m.


R 4 500.00 rental income – R 4 032.50 expenses = R 467.50 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 1 771.00 p.m.
Rental Management fee (if applicable) =R 517.50 p.m.
Total R 2 288.50 p.m.                      


R 4 500.00 rental income – R 2 288.50 expenses = R 2 211.50 Cashflow positive.

 

Gross Yield: 21.6% at R4 500.00 rental income and R 250 000.00 cash offer.

 

 

Would you like to make an offer on this property?

Address

Address: 135 Helen Joseph street
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
Open on Google Maps
  • Property ID 974
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1
  • Bathrooms 1
  • Size 58 Sqm
  • Label R250 000.00

Contact

Ian

Property Agent
reception@mamela.co.za
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