Park Avenue Ref: 937

937

Property ID

48 Sqm

Size

1

Bedroom

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: 48 sqm.

Levy: 
R 750.00 Managed by City Accommodations 011 720 5334.

A spacious one-bedroom unit that is newly renovated. There is a separate kitchen with built in cupboards and a separate bathroom with a bath, basin and a toilet. The unit has an open balcony.

The current owner of the unit is receiving R2 900.00 for rent per month. According to rental managers in the area, a rental income of between R 2 900.00 p.m. and R 3 200.00 p.m.

The unit requires general maintenance touch ups, a detailed quote will be provided to the owner on request.

No. According to the Body Corporate, 4 people may reside 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%):

 

R140 000.00 Bond at 7% =R 977.00 p.m.
Monthly Levy =R 750.00 p.m.
Rental Management fee (if applicable) =R 333.50 p.m.
Total R 2 060.05 p.m.


R 2 900.00 rental income – R 2 060.05 expenses = R 839.50 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 750.00 p.m.
Rental Management fee (if applicable) =R 333.50 p.m.
Total R 1 083.50 p.m.                      


R 2 900.00 rental income – R 1 083.50 expenses = R 1 816.50 Cashflow positive.

 

Gross Yield: 24% at R 2 900.00 rental income and R 140 000.00 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
Open on Google Maps
  • Property ID 937
  • Property Type Sectional Title
  • Property status Sold
  • Bedrooms 1
  • Bathrooms 1
  • Size 48 Sqm

Contact

Ian

Property Agent
reception@mamela.co.za
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