Park Lane Ref 919

919

Property ID

71 Sqm

Size

1

Bedroom

1

Bathroom

Description

This opportunity is not to be missed.  Park Lane is a block that is perfectly located on Abel Road close to all the basic amenities such as the Netcare Rand Hospital.

The building is insured and has 24/7 security guards. Park Lane’s management was taken over by Mansfield Property Solutions in October of 2020.

Invest today for a better tomorrow!

Number of flats in building: 40.

Size: 71 sqm.

Levy: R 1 440.16 pm. Mansfield Property Solution (011) 892 0035

Original one-bedroom unit. The apartment has a separate bathroom consisting of a bath, basin and toilet. The kitchen is also separated and is neatly tiled. The unit has a spacious living area utilized as additional sleeping stations.

The current owner is receiving R4 285.00 p/m. According to rental managers in the area a rental income of between R4 000.00 pm and R4 300.00 p/m can be achieved, if the property is upgraded to their specifications.

The unit is in a good condition with general touch ups and maybe some painting 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 0.84 km.
Engen Services Hillbrow 0.61 km.
McDonalds Shops Hillbrow 0.39 km.

Calculation:

 

Purchase with Bond (90%):

 

R155 000.00 Bond at 7% =R 1 082.00 p.m.
Monthly Levy =R 1 440.16 p.m.
Rental Management fee (if applicable) =R 492.77 p.m.
Total R 3 014.93 p.m.


R 4 285.00 rental income – R 3 014.93 expenses = R 1 270.07 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 1 440.16 p.m.
Rental Management fee (if applicable) =R 492.77 p.m.
Total R 1 932.93 p.m.                      


R 4 285.00 rental income – R 1 932.93 expenses = R 2 352.07 Cashflow positive.

 

Gross Yield: 33% at R 4 285.00 rental income and R 155 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 22 Abel Road, Berea
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Berea
Open on Google Maps
  • Property ID 919
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1
  • Bathrooms 1
  • Size 71 Sqm
  • Number of flats in building: 40

Contact

Ian

Property Agent
reception@mamela.co.za
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