Marble Arch Ref 1010

Marble Arch Ref 1010

1010

Property ID

144 Sqm

Size

3

Bedrooms

2

Bathrooms

Description

Pristine property in Joubert Park.

The building boasts security, audited financial statements, working lifts, great condition.

The building is located among great amenities in town especially BRT bus stations that leads to the Gautrain station.

This is an opportunity not to be missed!

Number of flats in building: 72.

Size: 144 sqm.

Levy: R 3 353.76 Managed by Compeq. (011) 841 3400.

A spacious three bedroom flat, kitchen with nice cupboards with a bathroom that consists of a bath, basin and toilet. as well as a bathroom with a shower basin and toilet! There is one big living area which can be utilized as a bedroom and there is an open balcony.

The unit is occupied and the rent is currently R 7 500.00 p.m. Mamela Estates is currently managing this unit. According to other rental agents, rental of between R 7 000.00 p.m. and R 8 000.00 p.m. is achievable should the property be upgraded to their specifications.

This property is in a good condition, though it will require minor maintenance. A fully detailed maintenance quote will be supplied to the successful purchaser.

No. According to the Body corporate 6 people may stay in the unit.

Closest Amenities:
Barnato Park High School            School                        Yeoville                   0.35km

Police – SAPS                               Emergency Services   Hillbrow                 0.47km

Engen Services                             Fuel                             Yeoville                  0.24km

Calculation:

Purchase with Bond (90%):

R 380 000.00 Bond at  8.25 % =R 2 914.00 pm
Monthly Levy =R 3 353.76 pm
Rental Management fee (if applicable) =R 862.50 pm
Total =R 7 130.26 pm

R7 500.00 rental income – R 7 130.26 expenses = R 369.74 Cash flow positive.

Purchase with Cash:

Monthly Levy =R 3 353.76 pm
Rental Management fee (if applicable) =R 862.50 pm
Total = R4 216.26 pm

R 7 500.00 rental income – R 4 216.26 expenses = R 3 283.74 Cash-flow positive.

Gross Yield: 23.6% at R 7500.00 rental income and R 380 000.00 cash offer.

Address

Address: 38 Goldreich Street, Hillbrow
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Hillbrow
  • Postal code / ZIP: 2001
Open on Google Maps
  • Property ID 1010
  • Property Type Sectional Title
  • Property status Buy
  • Bedrooms 3
  • Bathrooms 2
  • Size 144 Sqm
  • Land area 5,135 SqFt
  • Label R345 000.00

Contact

Ian

Property Agent
reception@mamela.co.za
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