933
Property ID
81 Sqm
Size
1
Bedroom
1
Bathroom
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.
