Park Avenue Ref 969

969

Property ID

75 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: 75 sqm.

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

A spacious one-bedroom unit with a big living are that can be utilized as a sleeping area. separate bathroom with a bath, basin and toilet and a separate kitchen with build in cupboards.

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 requires slight maintenance.

A detailed maintenance quote will be supplied to the buyer upon request.

No. According to the Body Corporate 4 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 230 000.00 Bond at 7% =R 1 605.00 pm
Monthly Levy =R 850.00 pm
Rental Management fee (if applicable) =R 517.50 pm
Total R 2 972.50 pm


R 4 500.00 rental income – R 2 972.50 expenses = R 1 527.50 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: 24% at R 4 500.00 rental income and R 230 000.00 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: Hillbrow
  • Postal code / ZIP: 2044
Open on Google Maps
  • Property ID 969
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1
  • Bathrooms 1
  • Size 75 Sqm
  • Label R230 000.00
  • Number of flats in building: 59

Contact

Ian

Property Agent
reception@mamela.co.za
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