Regina Heights Ref 933

933

Property ID

81 Sqm

Size

1

Bedroom

1

Bathroom

Description

Regina Heights is a well-known building located in Joubert Park. This area is a favourite amongst investors and tenants.

The block is insured and has audited financial statement for 2019.

The building management is taking care of the building very well and ensuring that all owners and tenants are as happy as possible.

A sound investment indeed!

Number of flats in building: 50.

Size: 81 sqm.

Levy: R 1267.73 pm. City Accommodations (011 720 5334)

Original one-bedroom unit. The apartment has a separate bathroom consisting of a bath, basin and toilet. The kitchen is also separate with built-in cupboards.

The current owner is receiving R4 500.00 p/m. According to rental managers in the area a rental income of between R4 500.00 pm and R4 700.00 p/m can be achieved, if the property is upgraded to their specifications.

The unit is in good condition and requires general maintenance touch-ups, such as some painting and tiling etc. 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      
Pick and Pay Shops Hillbrow 0.22 km.
Netcare Rand Hospital Emergency Berea 1.28 km.
National Car Rental Services Hillbrow 0.35 km.

 

Calculation:

 

Purchase with Bond (90%):

 

R190 000.00 Bond at 7% =R 1 326.00 p.m.
Monthly Levy =R 1267.73 p.m.
Rental Management fee (if applicable) =R 517.50 p.m.
Total R 3 111.23 p.m.


R 4500.00 rental income – R 3 111.23 expenses = R 1388.77 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 1267.73 p.m.
Rental Management fee (if applicable) =R 517.50 p.m.
Total R 1785.23 p.m.                      


R 4 500.00 rental income – R 1785.23 expenses = R 2 714.77 Cashflow positive.

 

Gross Yield: 28% at R 4 500.00 rental income and R 190 000.00 cash offer.

 

 

 

Would you like to make an offer on this property?

Address

Address: 20 Leyds Street, Joubert Park
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Joubert Park
Open on Google Maps
  • Property ID 933
  • Property Type Sectional Title
  • Property status Sold
  • Bedrooms 1
  • Bathrooms 1
  • Size 81 Sqm

Contact

Ian

Property Agent
reception@mamela.co.za
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