Maxwelton Ref 867

867

Property ID

75 Sqm

Size

1

Bedroom

1

Bathroom

Description

Fantastic location! Maxwelton is walking distance from Hillbrow police station.

This very neat, well managed building is insured, has working lifts and great security!

This is an opportunity not to be missed!

Number of flats in building: 63

Size: 75 m²

Levy:  R 786.49 Managed by PAL Property Management. (011) 472 7226.

A spacious one bedroom unit with a living area big enough for 2 sleeping stations.  The unit has a semi open balcony which can be used as another sleeping station.  The unit has a separate kitchen, and a bathroom with a bath and basin & separate toilet. Novilon tiles in kitchen & bedroom with wooden flooring in the living area, the balcony has ceramic tiles.  The unit is equipped with a geyser and prepaid meter as well as a security gate at the front door.

This unit is currently vacant.  Mamela Estates is currently managing similar units in the area. According to Mamela a rental of between R 3 800.00 p.m. and R 4 000.00 p.m. is achievable should the property be upgraded to our specifications.

This property is in an average condition.  The flat has been painted out.  The unit has some cracked windows, broken doors and the cupboards needs attention.  The geyser is not working.  A fully detailed maintenance quote will be supplied to the successful buyer.

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

Closest Amenities:

 

Brenthurst Clinic Emergency Services 0.39 km
Rand Hospital – Netcare Emergency Services 0.53 km
Afro Kombs College Schools 0.31 km
Highpoint Shopping Centre Shops 0.22 km

 

Calculations:

Purchase with Bond (90%):
                                                                              

R 175 000.00 Bond at 10.25% =R 1 546.00 p.m.
Monthly Levy =R 786.49. p.m.
Rental Management fee (if applicable) =R 460.00 p.m.
Total  R 2 792.49 p.m.

R 4 000.00 rental income – R 2 792.49 expenses = R 1 207.51 Cash flow positive.

Purchase with Cash:

Monthly Levy =R 786.49  pm
Rental Management fee (if applicable) =R 460.00 pm
Total R 1 246.49.pm

R 4 000.00 rental income – R 1 246.49 expenses = R 2 753.51 Cash flow positive.


Gross Yield:
 27.43% at R 4 000.00 rental income and R 175 000.00 cash offer.

 

Would you like to make an offer on this property?

Address

Address: 6 Goldreich Street, Joubert Park
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Joubert Park
  • Postal code / ZIP: 2198
Open on Google Maps
  • Property ID 867
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1
  • Bathrooms 1
  • Size 75 Sqm
  • Label Invest
  • Number of flats in building: 63

Contact

Ian

Property Agent
reception@mamela.co.za
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