New Carlington Ref 877

877

Property ID

104 Sqm

Size

2

Bedrooms

1

Bathroom

Description

Reduced Price – An exciting well priced opportunity at New Carlington, located in Joubert Park, this area is a favourite amongst investors.

Mamela is currently managing numerous units in the building and our investors are getting great return on their acquisitions.

There is security in the building.

This is an opportunity not to be missed!

Number of flats in building: 60. 

Size: 104 sqm. 

Levy: R 881.11 Managed by Framework Property Services (011) 481 7444

This is a spacious two-bedroom unit with a bathroom which consists of a basin, bath and a dispersed toilet. There is a geyser located in the unit. The unit has a large open-plan living area that is utilised as a sleeping station. There is an open balcony and a separate kitchen with nice cupboards and includes a stove.

The unit is currently vacant. According to rental managers in the area, a rental income of between R 4 000.00 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 maintenance. There are missing tiles and light fittings are to be replaced along with some doorknobs. There is repair work required in the kitchen and overall paintwork needed. A detailed maintenance quotation will be supplied to the successful buyer.

Yes. According to the Body Corporate 6 people may stay in the unit.

Closest Amenities:

Name Type Suburb    Distance   
Police SAPS Emergency Services Hillbrow 0.46 km.
Spar Shopping Hillbrow 0.06 km.
Afro Komb College Education Berea 0.29 km.

 

Calculation:

Purchase with Bond (90%):

R 199 000.00 Bond at 10.25 % =R 1 758.00 p.m.
Monthly Levy =R 881.11 p.m.
Rental Management fee (if applicable) =R 517.50 p.m.
Total R 3 156.61 p.m.

R 4 500.00 rental income – R 3 156.61 expenses = R 1 343.39 Cash flow positive.


Purchase with Cash:

Monthly Levy =R 881.11 p.m.
Rental Management fee (if applicable) =R 517.50 p.m.
Total R 1 398.61 p.m.

R 4 500.00 rental income – R 1 398.61 expenses = R 3 101.39 Cash flow positive.


Gross Yield:
 27.13% at R 4 500.00 rental income and R 199 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 30 Caroline Street, Joubert Park
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Joubert Park
Open on Google Maps
  • Property ID 877
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 2
  • Bathrooms 1
  • Size 104 Sqm
  • Label Invest
  • Number of flats in building: 60

Contact

Ian

Property Agent
reception@mamela.co.za
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