Reading Court Ref 912

912

Property ID

92 Sqm

Size

1.5

Bedrooms

1

Bathroom

Description

Reading Court is a well-known building located in Hillbrow. This area is a favourite amongst investors and tenants.

The block is insured by van Flymen and Associates.

The building management has been taken over by PAL Property Management in March of 2020 and they are doing a phenomenal job thus far.

A sound investment indeed!

Number of flats in building: 17.

Size: 92 sqm.

Levy: R 1 405.07 pm. PAL Property Management (011) 472 7226.

One and a half bedroom unit. The apartment has a separate bathroom consisting of a shower, basin and toilet. The spacious kitchen is also separate with built-in cupboards and a double zinc. The unit is neatly tiled and well taken care of with a large living/lounge area. The unit has a pre-paid electricity meter and a working geyser. There is also an additional enclosed balcony utilized as a small room.

The unit is currently vacant. According to rental managers in the area a rental income of between R 5 000.00 pm and R5 500.00 p/m can be achieved, if the property is upgraded to their specifications.

The property is in a good condition with minimal touch-ups required. A detailed maintenance quote will be supplied to the successful buyer. 

No. According to the Body Corporate, 6 people may reside in the unit. 

Closest Amenities:

 

Name Type Suburb Distance      
SPAR Shops Hillbrow 0.67 km.
Fire Station Emergency Berea 0.22 km.
Engen Services Hillbrow 0.63 km.

 

 

Calculation:

 

Purchase with Bond (90%):

 

R270 000.00 Bond at 7% =R 1 884.00 p.m.
Monthly Levy =R 1 405.07 p.m.
Rental Management fee (if applicable) =R   609.50 p.m.
Total   R 3 898.57 p.m.


R 5 300.00 rental income – R 3 898.57 expenses = R 1 401.43 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 1 405.07 p.m.
Rental Management fee (if applicable) =R   609.50 p.m.
Total   R 2 014.57 p.m.                      


R 5 300.00 rental income – R 2 014.57 expenses = R 3 285.43 Cashflow positive.

 

Gross Yield: 23% at R 5 300.00 rental income and R 270 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 4 Willie Street, Hillbrow
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Hillbrow
Open on Google Maps
  • Property ID 912
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1.5
  • Bathrooms 1
  • Size 92 Sqm
  • Number of flats in building: 17

Contact

Ian

Property Agent
reception@mamela.co.za
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