New Carlington Ref 951

951

Property ID

150 Sqm

Size

3

Bedrooms

2

Bathrooms

Description

Great Investment opportunity! New Carlington has a very good location in Hillbrow, as it is located close to BRT bus routes.

The building is in a good condition, but the lifts are currently not working. There are security guards at the entrance who strictly monitor access control.

There is a municipal debt and arrangements for settling the debt are in place.

New Carlington is currently not insured and the last auditing was done this year in February.

Investment makes money grow, to keep the income flow.

Number of flats in building: 60.

Size: 150 sqm.

Levy: R 1269.42 Managed by Camalb (011) 864 5050.

A spacious nicely tiled three bedroom flat with a main bedroom ensuite with an open balcony, an additional separate bathroom that consists of a bath, basin and a toilet. There are two large living areas that can be utilized as TV room and dining area, a separate kitchen with nice cupboards and an open balcony.

Their are currently  tenants in the unit and the owner is receiving a rental income of R 7500.00 per month According to rental managers in the area a rental income between R 7 500.00 to R 7 800 p.m. can be achieved if the property is upgraded to their specifications.

The unit is in a good condition and requires no maintenance as the unit has been newly renovated.

No. According to the Body Corporate 9 people may reside in the unit.

Closest Amenities:

Name Type Suburb Distance      
Highpoint Shopping Centre Shopping Centre Joubert Park 0.32 km.
Afro Combs College Education Joubert Park 0.37 km.
Progressive Primary School Education Joubert Park 0.98 km.

Calculation:

Purchase with Bond (90%):

R 315 000.00 Bond at 10.00 % =R 2 198.00 p.m.
Monthly Levy =R 1 269.42 p.m.
Rental Management fee (if applicable) =R 862.50 p.m.
Total R 4 329.92 p.m.

R 7 500.00 rental income – R 4 329.92 expenses = R 3 170.08 Cashflow positive.

Purchase with Cash:

Monthly Levy =R 1 269.42 p.m.
Rental Management fee (if applicable) =R 862.50 p.m.
Total R 2 131.92 p.m.

R 7 500.00 rental income – R 2 131.92 expenses = R 5 368.08 Cashflow positive.

Gross Yield: 28% at R 7 500.00 rental income and R 315 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 132 Claim Street, Hillbrow
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Joubert Park
Open on Google Maps
  • Property ID 951
  • Property Type Sectional Title
  • Property status Sold
  • Bedrooms 3
  • Bathrooms 2
  • Size 150 Sqm
  • Label R315 000.00

Contact

Ian

Property Agent
reception@mamela.co.za
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