Montreal Mansions Ref 943

943

Property ID

25 Sqm

Size

0.5

Bedrooms

1

Bathroom

Description

Montreal Mansions is one of the sectional title blocks in Joubert Park 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: 100.

Size: 25 sqm.

Levy: R 746.00 pm.

A original bachelor unit with a separate bathroom consisting of a bath, toilet and basin. There is a separate kitchen.

The current owner is receiving R3100.00 pm. According to rental managers in the area the general rental income is between R3000.00 pm and R3300.00 pm, if the property is upgraded to their specifications.

The unit is not in a good condition and requires maintenance e.g. paint, plumbing and electrical work is required. A detailed maintenance quote will be supplied to the successful buyer.

No. According to the Body Corporate, 4 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%):

  • R 120 000.00 Bond at 7% =R 837.00 p.m.
  • Monthly Levy =R 746.00 p.m.
  • Rental Management fee (if applicable) =R 322.00 p.m.
  • Total =R 1905.00 p.m.

 

R 2800.00 rental income – R 1905.00 expenses = R 895.00 Cash flow positive.

Purchase with Cash:

  • Monthly Levy =R 746.00 pm
  • Rental Management fee (if applicable) =R 322.00 pm
  • TotalR 1068.00 pm

R 2800.00 rental income – R 1068.00 expenses = R 1732.00 Cash-flow positive.

Gross Yield: 28% at R 2800.00 rental income and R 120 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 58 Claim Street, Joubert Park
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Yeoville
Open on Google Maps
  • Property ID 943
  • Property Type Sectional Title
  • Property status Under Offer
  • Rooms 1
  • Bedrooms 0.5
  • Bathrooms 1
  • Size 25 Sqm
  • Label R120 000.00

Contact

Ian

Property Agent
reception@mamela.co.za
Other Properties