Park Court Ref 895

895

Property ID

61 Sqm

Size

1

Bathroom

Description

Park Court is a well-known building located in Joubert Park. This area is a favourite amongst investors and tenants.

This price is negotiable.

Mamela is currently managing numerous units in the building and our investors are getting great return on their acquisitions.

This is an opportunity not to be missed!

Number of flats in building: 63.

Size: 61 sqm.

Levy: R 566.00 pm. PAL Property Management (011 472 7226)

Bachelor unit. The flat has a bathroom consisting of a bath, basin and toilet. The unit is neatly painted, and flooring is tiled.

The current owner is getting R3 000.00 p.m. According to rental managers in the area a rental income of between R3 000.00 pm and R3 200.00 pm can be achieved, if the property is upgraded to their specifications.

There are a few leaking taps, missing tiles and lights not working in the unit. There is some maintenance required. A detailed maintenance quote will be supplied to the successful buyer. 

No. According to the Body Corporate, 4 people may reside in the unit. 

Closest Amenities:

 

Name Type Suburb Distance      
Police – SAPS Emergency Hillbrow 0.83 km.
Recreation Centre Recreation Yeoville 0.57 km.
Yeoville Boys’ Primary School Education Yeoville 0.60 km.

Calculation:

Purchase with Bond (90%):

 

R147 000.00 Bond at 7.25% =R 1 046.00 p.m.
Monthly Levy =R 566.00 p.m.
Rental Management fee (if applicable) =R 368.00 p.m.
Total R 1 980.00 p.m.


R 3 200.00 rental income – R 1 980.00 expenses = R 1 220.00 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 566.00 p.m.
Rental Management fee (if applicable) =R 368.00 p.m.
Total R 934.00 p.m.                      


R 3 200.00 rental income – R 934.00 expenses = R 2 266.00 Cashflow positive.

Gross Yield: 26% at R 3 200.00 rental income and R 147 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 37 Leyds Street, Joubert Park
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Joubert Park
Open on Google Maps
  • Property ID 895
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bathrooms 1
  • Size 61 Sqm
  • Label Invest
  • Number of flats in building: 63

Contact

Ian

Property Agent
reception@mamela.co.za
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