Preston Place Ref 1005

1005

Property ID

110 Sqm

Size

2

Bedrooms

2

Bathrooms

Description

Preston Place is a well-known building located in Berea. This area is a favourite amongst investors and tenants.

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!

The unit is 110 sqm

This unit also comes with a double garage and servant quarters (37sqm) on the roof of the building.

Levies: R4 050.00

Big two bedroom unit, main bedroom has an en-suite bathroom with a bath, basin and toilet. The second bathroom has a shower, toilet and basin. The second bedroom is also big enough for double bed and both rooms have ampule cupboard space. There is a beautiful open plan living area that is big enough for a dining room and living room setup. The unit offers a big open plan kitchen with an island in the middle, it also offers ampule cupboard space and room for appliances.

lastly the unit offers a open balcony that offers beautiful views of the city.

The unit will be vacant upon registration. The potential rent for the unit is between R8 000.00 – R10 000.00 can be achieved if the property is upgraded to standard.

The unit is in perfect condition and requires no maintenance.

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

Name Type Suburb Distance      
Engen Hillview Service Station Filling Station Berea 0.62 km.
Hillbrow Police Station Police Hillbrow 0.85 km.
Highpoint Shopping Centre Shopping Berea 0.64 km.

Calculation:

 

Purchase with Bond (90%):

 R565 000.00 Bond at 7% =R 4 175.00 p.m.
Monthly Levy =R 4 050.00 p.m.
Rental Management fee (if applicable) =R 1 150.00 p.m.
Total R 9 375.00 p.m.


R10 000.00 rental income – R 9 375.00 expenses = R 625.00 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 4 050.00 p.m.
Rental Management fee (if applicable) =R 1 150.00 p.m.
Total R 5 200.00 p.m.                      


R 10 000.00 rental income – R 5 200.00 expenses = R 4 800.00 Cashflow positive.

 

Gross Yield: 21% at R 10 000.00 rental income and R 565 000.00 cash offer.

 

Address

Address: 24 Alexandra Street, Hillbrow
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Berea
Open on Google Maps
  • Property ID 1005
  • Property Type Sectional Title
  • Property status Buy
  • Rooms 2
  • Bedrooms 2
  • Bathrooms 2
  • Size 110 Sqm
  • Label R565 000.00
  • Garages 1
  • Garage Size 16 Sqm

Contact

Ian

Property Agent
reception@mamela.co.za
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