An opportunity not to be missed. This is a perfect investment for the investor who would like to purchase a full title building.
The selling price might be negotiable.
The block is in a great condition as a maintenance upgrade was completed in the past, fitted with a magnetic security gate at the main entrance and pre-paid electricity to save on electrical recoveries.
Number of flats in building: 11 separate flats with 6 rooms on the roof.
Size: 495 sqm. (STAND)
Levy: The expenses of the block are as follows according to the latest C.O.J statements:
Rates: R 1 625.26
Electricity: R 8 042.76 (Recovered)
Water and Sanitation R 7 704.91 (Recovered)
Pic It Up R 837.90
Total R 2 463.16
A mixture of eleven spacious one bedroom and two bedroom flats, with their own bathrooms, kitchens and living areas. There are also six rooms on top of the roof with its own communal bathroom. The block also has three locked up parking bays.
The owner is currently receiving R 62 703.07 p.m due to a rental increase that occurred in November 2017. Currently, Mamela is successfully managing similar blocks and we are capable to manage this block as well. Please click here for a detailed Rent roll.
The block in a good condition and fully let. A detailed maintenance quote will be supplied to the successful buyer.
Police SAPS – Yeoville
Type: Emergency Services
Area: Yeoville
Distance: 0.37 k.m
Yeoville Boys’ Primary School
Type: Schools
Area: Yeoville
Distance: 0.19 k.m
Nando’s – Yeoville
Type: Shops
Area: Yeoville
Distance: 0.22 k.m
Purchase with Bond (50%):
R 3 700 000.00 Bond at 10.00 % =R 17 852.90 p.m.
Monthly Levy =R 2 463.16 p.m.
Rental Management fee (if applicable) =R 7 147.80 p.m.
Total R 27 463.86 p.m.
R 62 703.07 rental income – R 27 463.86 expenses = R 35 239.21 Cashflow positive.
Purchase with Cash:
Monthly Levy =R 2 463.16 p.m.
Rental Management fee (if applicable) =R 7 147.80 p.m.
Total R 9 610.96 p.m.
R 62 703.07 rental income – R 9 610.96 expenses = R 53 092.11 Cashflow positive.
Gross Yield: 20.3 % at R 62 703.07 rental income and R 3 700 000.00 cash offer
Would you like to make an offer on this property?
