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.
