An opportunity to purchase a standalone block of flats located in Louis Botha Avenue.
The selling price might be negotiable.
The block is in a superb condition as a maintenance upgrade was completed in the past, fitted with a magnetic security gate at the main entrance and pre-paid electricity to save on electrical recoveries.
An investment opportunity not to be missed!
Number of flats in building: 10 separate flats with 9 rooms on the roof.
Size: 628 sqm. (STAND)
Levy: The expenses of the block are as follows according to the latest C.O.J statements:
Rates: R 2803.34
Electricity: R 9095.70 (Recovered)
Water and Sanitation R 6924.97 (Recovered)
Pic It Up R 1707.75
Total R 4511.09
A mixture of ten spacious one bedroom and two bedroom flats, with their own bathrooms, kitchens and living areas. There are also nine rooms on top of the roof with its own communal bathroom. The block also has three locked up parking bays.
The owner is currently receiving R 63 730.00 p.m. Currently, Mamela is successfully managing similar blocks and we are capable to manage this block as well. Please click here for a detailed rent roll.
The block in a good condition and fully let. A detailed maintenance quote will be supplied to the successful buyer.
Closest Amenities:
|
Name |
Type |
Suburb |
Distance |
| Yeoville Boys’ Primary | School | Yeoville |
0.51 km. |
| Police SAPS – Yeoville | Emergency Services | Yeoville |
0.51 km. |
| University of Johannesburg | Tertiary Institution | Doornfontein |
1.52 km. |
Calculation:
Purchase with Bond (50%):
R 63 730.00 rental income – R 33 553.04 expenses = R 30 176.96 Cash flow positive.
Purchase with Cash:
R 63 730.00 rental income – R 11 840.04 expenses = R 51 889.96 Cash-flow positive.
Gross Yield: 16.9% at R 63 730.00 rental income and R 4 500 000.00 cash offer.
