Monterey Ref 900

900

Property ID

91 Sqm

Size

2

Bedrooms

1

Bathroom

Description

Great Investment opportunity! Monterey is located on Harley Street in Yeoville.

The building is well maintained and has security, insurance and financial statements available.

An opportunity not to be missed.

Number of flats in building: 16.

Size: 91 sqm.

Levy: R 1 035.00 pm. PAL Properties (011) 475 7226

Original two-bedroom unit. The flat has a bathroom consisting of a bath and basin with a separate toilet. The kitchen is equipped with a geyser and the unit is neatly tiled.

The current owner is receiving R6 500.00 p.m. as they are renting to family. According to rental managers in the area a rental income of between R6 500.00 pm and R7 000.00 pm can be achieved, if the property is upgraded to their specifications.

The unit is in a fairly good condition and requires some paint work and general touch-ups. A detailed maintenance quote will be supplied to the successful buyer. 

Yes. According to the Body Corporate, 4 people may reside in the unit. 

Closest Amenities:

 

Name Type Suburb Distance      
Police – SAPS Emergency Yeoville 0.54 km.
Engen Services Yeoville 0.64 km.
Yeoville Boys Primary School Education Yeoville 0.83 km.

Calculation:

Purchase with Bond (90%):

 

R260 000.00 Bond at 9.75% =R 2 220.00 p.m.
Monthly Levy =R 1 035.00 p.m.
Rental Management fee (if applicable) =R 747.50 p.m.
Total R 4 002.50 p.m.


R 6 500.00 rental income – R 4 002.50 expenses = R 2 497.50 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 1 035.00 p.m.
Rental Management fee (if applicable) =R 747.50 p.m.
Total R 1 782.50 p.m.                      


R 6 500.00 rental income – R 1 782.50 expenses = R 4 717.50 Cashflow positive.

Gross Yield: 30% at R 6 500.00 rental income and R 260 000.00 cash offer.

 

Would you like to make an offer on this property?

Address

Address: 25 Harley Street, Yeoville
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Yeoville
Open on Google Maps
  • Property ID 900
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 2
  • Bathrooms 1
  • Size 91 Sqm
  • Label Invest
  • Number of flats in building: 16

Contact

Ian

Property Agent
reception@mamela.co.za
Other Properties