New Carlington Ref 953

953

Property ID

150 Sqm

Size

2

Bedrooms

1

Bathroom

Description

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 two bedroom flat with a separate bathroom that consists of a bath, basin and a separate toilet. There is a large living area that can be utilized as TV room and dining area, a separate kitchen with nice cupboards.

The unit is currently vacant however according to the rental managers in the area a rental income between R 7 000.00 to R 7 500 p.m. can be achieved if the property is upgraded to their specifications.

The flat is in a fair condition, it will require some general cosmetic maintenance details such as fixing a few broken windows as well as painting of the unit and general cleaning of the unit is required. A detailed maintenance quote will be supplied to the successful buyer. 

No. According to the Body Corporate up to 4 people may reside 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 290 000.00 Bond at 7% =R 2024.00 p.m.
  • Monthly Levy =R 1269.42 p.m.
  • Rental Management fee (if applicable) =R 805.00 p.m.
  • Total =R 4098.42 p.m.

 

R 7000.00 rental income – R 4098.42 expenses = R 2901.58 Cash flow positive.

Purchase with Cash:

  • Monthly Levy =R 1269.42 pm
  • Rental Management fee (if applicable) =R 805.00 pm
  • TotalR 2074.42 pm

R 7000.00 rental income – R 2074.42 expenses = R 4925.58 Cash-flow positive.

Gross Yield: 28,9% at R 7000.00 rental income and R 290 000.00 cash offer.

 

Gross Yield: 28% at R 7 000.00 rental income and R 290 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: hillbrow
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Hillbrow
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  • Property ID 953
  • Property Type Sectional Title
  • Property status Buy
  • Bedrooms 2
  • Bathrooms 1
  • Size 150 Sqm
  • Label R290 000.00

Contact

Ian

Property Agent
reception@mamela.co.za
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