Park Avenue Ref 888

888

Property ID

84 Sqm

Size

2

Bedrooms

1

Bathroom

Description

Park Avenue’s location is currently the centre of attraction for investors, commercial and residential, with new development in the area, prices are increasing rapidly. The building is managed by City Accommodations.

The building is almost fully occupied by tenants and Mamela Estates is currently managing some properties in this scheme.

The building is insured, and 24/7 security is available which is a nice bonus!

A great investment indeed.

Number of flats in building: 59.

Size: 84 sqm.

Levy: 
R 850.00 Managed by City Accommodations 011 720 5334.

A spacious two-bedroom unit that is newly renovated. There is a roomy separate kitchen and a separate bathroom with a bath, basin and a toilet. The unit is neatly tiled and freshly painted as well.

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 obtained. Mamela Estates has been successfully managing similar units in Park Avenue for the past three years. 

The unit is newly renovated with no maintenance currently required.

No. According to the Body Corporate 6 people may stay in the unit.

Closest Amenities:

 

Name Type Suburb Distance 
Saint Edna`s Secondary School Education Joubert Park 0.33 km.
BP Cascareo Motors Services Joubert Park 0.15 km.
Park Central Shopping Centre Shopping Centre Joubert Park 0.18 km.

 

Calculation:

Purchase with Bond (90%):

 

R 185 000.00 Bond at 10% =R 1 607.00 pm
Monthly Levy =R 850.00 pm
Rental Management fee (if applicable) =R 517.50 pm
Total R 2 974.50 pm


R 4 500.00 rental income – R 2 974.50 expenses = R 1 525.50 Cashflow positive. 

 

Purchase with Cash:

 

Monthly Levy =R 850.00 pm
Rental Management fee (if applicable) =R 517.50 pm
Total R 1 367.50 pm


R 4 500.00 rental income – R 1 367.50 expenses = R 3 132.50 Cashflow positive.

Gross Yield: 29.18% at R 4 500.00 rental income and R 185 000.00 cash offer.

 

 

 

Would you like to make an offer on this property?

Address

Address: 18 Koch Street, Joubert Park
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Joubert Park
  • Postal code / ZIP: 2044
Open on Google Maps
  • Property ID 888
  • Property Type Sectional Title
  • Property status Sold
  • Bedrooms 2
  • Bathrooms 1
  • Size 84 Sqm
  • Label Invest
  • Number of flats in building: 59

Contact

Ian

Property Agent
reception@mamela.co.za
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