Mount Willmar Ref 879

879

Property ID

96 Sqm

Size

1

Bedroom

1

Bathroom

Description

An exciting well priced opportunity at Mount Willmar, located in Lorentzville, this area is a favourite amongst investors and tenants.

A few of the units in this building are already being managed by Mamela and our investors are getting great returns on their acquisitions.

This building has security, is insured and has audited financials available as well.

This is an opportunity not to be missed!

Number of flats in building: 36. 

Size: 96 sqm. 

Levy: R 1 685.18 Managed by Letcor Property Management cc (011) 403 0701

This is a spacious one-bedroom unit with a neatly tiled bathroom which consists of a basin, bath and a separate toilet. There is a geyser located in the unit. The unit has a large open-plan living area that is utilised as an additional sleeping station. There is an open balcony and a separate kitchen with nice cupboards and includes a stove and there are pre-paid meters.

The unit is currently tenanted. According to rental managers in the area, a rental income of between R 4 200.00 p.m. and R 4 500.00 p.m. can be achieved, if the property is upgraded to their specifications. 

The unit is in an average condition and requires some maintenance to be done. There are few missing tiles and the bedroom carpets require attention. A detailed maintenance quotation will be supplied to the successful buyer.

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

Closest Amenities:

Name Type Suburb    Distance   
Police SAPS Emergency Services Yeoville 0.55 km.
Engen Services Yeoville 0.74 km.
TM Driving Academy Education Lorentzville 0.41 km.

Calculation:

Purchase with Bond (90%):

R 195 000.00 Bond at 10.25 % = R 1 723.00 p.m.
Monthly Levy = R 1 685.18 p.m.
Rental Management fee (if applicable) = R 517.50 p.m.
Total R 3 925.68 p.m.

R 4 500.00 rental income – R 3 925.68 expenses = R 574.32 Cash flow positive.


Purchase with Cash:

Monthly Levy = R 1 685.18 p.m.
Rental Management fee (if applicable) = R 517.50 p.m.
Total R 2 202.68 p.m.

R 4 500.00 rental income – R 2 202.68 expenses = R 2 297.32 Cash flow positive.


Gross Yield:
 27.69% at R 4 500.00 rental income and R 195 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 32 Isipingo Street, Lorentzville
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Bellevue
Open on Google Maps
  • Property ID 879
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1
  • Bathrooms 1
  • Size 96 Sqm
  • Label Invest
  • Number of flats in building: 36

Contact

Ian

Property Agent
reception@mamela.co.za
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