Prospect Place 847

847

Property ID

89 Sqm

Size

2

Bedrooms

1

Bathroom

Description

Another exciting well price opportunity at Prospect Place , a favourite amongst investors, walking distance from the Johannesburg University Doornfontein campus and Parktown BRT Bus route that is currently under construction , a huge improvement for the public transport sector.

The building is duly guarded by a turn style finger print security system as well as full time guards at the entrance.

Prospect Place has the potential to be one of the finest buildings in Berea. It is also high in demand with residents due to the above outstanding features.

Mamela is currently managing this unit in the building and the investors are getting great return on their acquisitions.

Number of flats in building: 84.

Size: 89sqm.

Levy: R 1082.63 Managed by Compeg. (011) 481 3400

This is a very spacious two-bedroom unit, which consists of a bathroom with a bath, basin and a separate toilet and extra basin. It has a separate living area. There is also a separate kitchen and an open balcony.

 

R 4 320.00 pm. is currently paid to the owner. According to rental managers in that area, a rental income of between R 4 320.00 pm. and R 5 000.00 pm. can be achieved if the property is upgraded to the specifications.

The flat is in a good condition with a working geyser. A detailed maintenance quotation will be supplied to the successful buyer.

Yes. According to the Body corporate 4 people may stay in the unit.

Closest Amenities:

Name

Type

Suburb

Distance

Spar – Fontana High Point Shops Berea

0.63 km.

Netcare – Rand Hospital Emergency Services Berea

0.52 km.

Afro Kombs College Education Berea

0.51 km.

Calculation:

Purchase with Bond (90%):

  • R 178 000.00 Bond at 10.00 % =R 1545.96 p.m.
  • Monthly Levy =R 1082.63 p.m.
  • Rental Management fee (if applicable) =R 575.00 p.m.
  • Total =R 3203.59 p.m.

 

R 5000.00 rental income – R 3203.59 expenses = R 1796.41 Cash flow positive.

Purchase with Cash:

  • Monthly Levy =R 1082.63 pm
  • Rental Management fee (if applicable) =R 575.00 pm
  • Total = R1657.63 pm


R 5000.00 rental income – R 1657.63 expenses = R 3342.37 Cash-flow positive.

Gross Yield: 33.7% at R 5000.00 rental income and R 178 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 25 Prospect Road, Berea
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Hillbrow
  • Postal code / ZIP: 2198
Open on Google Maps
  • Property ID 847
  • Property Type Sectional Title
  • Property status Sold
  • Bedrooms 2
  • Bathrooms 1
  • Size 89 Sqm
  • Land area 5,100 SqFt
  • Label Invest
  • Number of flats in building: 84

Contact

Ian

Property Agent
reception@mamela.co.za
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