Montesano Ref 941

941

Property ID

108 Sqm

Size

2

Bedrooms

2

Bathrooms

Description

Montesano is one of the sectional title blocks in Berea with exceptional potential and is favoured amongst investors and residents.

There is 24/7 security at the building and working lifts.

Mamela Estates is currently managing a number of flats for investments in this building.

A sound opportunity not to be missed!

Number of flats in building: 20

Size: 108 sqm.

Levy: R 1770.15 pm.

A two-bedroom unit with two bathrooms consisting of a bath, toilet and basin. There is a separate kitchen with built in cupboards and a working geyser together with a pre-paid meter. This unit has an open balcony and a large lounge.

The current owner is receiving R5500.00 p/m. According to rental managers in the area the general rental income is between R6000.00 pm and R6500.00 p/m, if the property is upgraded to their specifications.

The unit is in a good condition with general maintenance touch-ups required. The A detailed maintenance quote will be supplied to the successful buyer. 

No. According to the Body Corporate, 6 people may reside in the unit.

Name Type Suburb Distance    
Thembekile Primary School Education Berea 0.29 km.
Police SAPS Emergency Service Hillbrow 0.82 km.
Spar – Fontana Highpoint Shops Hillbrow 0.39 km.

 

Calculation:

 

Purchase with Bond (90%):

 

R350 000.00 Bond at 7% =R 2442.00 p.m.
Monthly Levy =R 1770.15 p.m.
Rental Management fee (if applicable) =R 632.00 p.m.
Total R 4 844.15 p.m.


R 6 500.00 rental income – R 4 844.15 expenses = R 1 655.85 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 1770.15 p.m.
Rental Management fee (if applicable) =R 632.00 p.m.
Total R 3097.85 p.m.                      


R 6 500.00 rental income – R 3097.85 expenses = R 3 402.15 Cashflow positive.

 

Gross Yield: 22.28% at R 6 500.00 rental income and R 350 000.00 cash offer.

 

 

 

 

Would you like to make an offer on this property?

Address

Address: 3 Cavendish Road, Yeoville
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Yeoville
Open on Google Maps
  • Property ID 941
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 2
  • Bedrooms 2
  • Bathrooms 2
  • Size 108 Sqm

Contact

Ian

Property Agent
reception@mamela.co.za
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