Prospect Place Ref 876

876

Property ID

43 Sqm

Size

1

Bedroom

1

Bathroom

Description

An exciting well priced opportunity at Prospect Place, 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. There is security at the building and the building is insured which is a great bonus.

This is an opportunity not to be missed!

Number of flats in building: 84.

Size: 43 sqm.

Levy: R 829.07 Managed by PAL Property Management 011 472 7226.

This is a bachelor unit which consists of a bathroom with a basin, bath and a toilet. There is a working geyser. It has a separate living area which is sub-divided into an additional bedroom. There is an installed prepaid meter and separate kitchen. The flat has recently been repainted and is neatly tiled.

R 3 300.00 pm. is currently paid to the owner. According to rental managers in that area, a rental income of between R 3 000.00 p.m. and R 3 300.00 p.m. can be achieved if the property is upgraded to the specifications.

The unit is in a good condition. There are a few wall tiles that are chipped in the bathroom. A detailed maintenance quotation will be supplied to the successful buyer.

Yes. According to the Body Corporate 3 people may stay in the unit.

Closest Amenities:

Name Type Suburb    Distance   
Police SAPS Emergency Services Hillbrow 0.92 km.
Berea Take Aways Shopping Berea 0.22 km.
Afro Komb College Education Berea 0.51 km.

Calculation:

Purchase with Bond (90%):

R 120 000.00 Bond at 10.25 % =R 1 060.00 p.m.
Monthly Levy =R 829.07 p.m.
Rental Management fee (if applicable) =R 379.50 p.m.
Total R 2 268.57 p.m.

R 3 300.00 rental income – R 2 268.57 expenses = R 1 031.43 Cash flow positive.

Purchase with Cash:

Monthly Levy =R 829.07 p.m.
Rental Management fee (if applicable) =R 379.50 p.m.
Total R 1 208.57 p.m.

R 3 300.00 rental income – R 1 208.57 expenses = R 2 091.43 Cash flow positive.


Gross Yield:
 33% at R 3 300.00 rental income and R 120 000.00 cash offer.

 

 

 

 

Would you like to make an offer on this property?

Address

Address: 26 O'Reilly Road, Berea
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Berea
Open on Google Maps
  • Property ID 876
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1
  • Bathrooms 1
  • Size 43 Sqm
  • Label Invest
  • Number of flats in building: 84

Contact

Ian

Property Agent
reception@mamela.co.za
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