Park Mansions Ref 897

897

Property ID

43 Sqm

Size

1

Bathroom

Description

Park Mansions is perfectly located in Joubert Park. There are pre-paid meters installed in the building, a tremendous advantage.

The auditor is currently finalizing the audited 2019 financials.

There is security in the complex. The lifts are not working, but the Body Corporate is currently attending this.

This is an opportunity not to be missed.

Number of flats in building: 174.

Size: 43 sqm.

Levy: R 799.88 pm. Managed by Pal Property Management 011 472 7226.

An original bachelor unit with a separate kitchen and bathroom with a bath and a toilet. The living area is divided into 2 rooms with 2 beds in the one room and a TV-room in the other.

The current owner is receiving R2 800.00 p.m. According to rental managers in the area a rental income of between R2 800.00 pm and R3 100.00 pm can be achieved, if the property is upgraded to their specifications.

There is no toilet seat or basin, the kitchen cupboards require to be redone and the stove is not working. There is definite 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
Afro Kombs College Education Joubert Park 0.28 km.
Netcare – Rand Hospital Emergency Services Joubert Park 0.58 km.
Highpoint Shopping Centre Shops Joubert Park 0.16 km.

Calculation:

Purchase with Bond (90%):

 

R121 000.00 Bond at 9.75% =R 1 033.00 p.m.
Monthly Levy =R 799.88 p.m.
Rental Management fee (if applicable) =R 322.00 p.m.
Total R 2 154.88 p.m.


R 2 800.00 rental income – R 2 154.88 expenses = R 645.12 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 799.88 p.m.
Rental Management fee (if applicable) =R 322.00 p.m.
Total R 1 121.88 p.m.                      


R 2 800.00 rental income – R 1 121.88 expenses = R 1 678.12 Cashflow positive.

Gross Yield: 27% at R 2 800.00 rental income and R 121 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 67 Edith Cavell Street, Joubert Park
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Joubert Park
Open on Google Maps
  • Property ID 897
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bathrooms 1
  • Size 43 Sqm
  • Label Invest
  • Number of flats in building: 174

Contact

Ian

Property Agent
reception@mamela.co.za
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