Roseacres Ref 842

842

Property ID

81 Sqm

Size

2

Bedrooms

1

Bathroom

Description

Secure block centrally located in Hillbrow, close to the BRT taxi routes and the Hillbrow CBD.

Mamela has sold to investors units in this building in the past, who are now reaping the rewards of a cashflow positive investment in this popular block.

Roseacres is in a very good condition and consists of solid building management, working lifts and good 24 hour security. The building is insured.

Number of flats in building: 41.

Size: 81sqm.

Levy: R 880.67 Managed by Tupa. (011) 435 6210

Spacious two-bedroom one-bathroom flat, large living area, separate kitchen with steel cabinets. The bathroom consists of a bath, basin and a separate toilet. There’s an open balcony.

The owner is currently receiving R4 200.00 p.m. According to rental managers in the area a rental income of between R 4 200 p.m. and R 4 500.00 p.m. can be achieved if the property is upgraded to their specifications. Mamela is currently successfully managing properties in the scheme.

The unit is in a good condition, though the geyser needs to be replaced.

General cosmetic maintenance will be required for the unit. A fully detailed maintenance quote will be supplied to the successful purchaser.

Yes. According to the Body corporate 6 people may stay in the unit.

Closest Amenities:

Name

Type

Suburb

Distance

Research Centre Medical Joubert Park

0.32 km.

Roedean School Education Parktown

0.96 km.

Nedbank Plaza Shopping Centre Hillbrow

0.32 km.

Calculation:

Purchase with Bond (90%):

  • R 200 000.00 Bond at 10.00 % =R 1737.04 p.m.
  • Monthly Levy =R 880.67 p.m.
  • Rental Management fee (if applicable) =R 569.25 p.m.
  • Total =R 3186.96 p.m.

 

R 4500.00 rental income – R 3186.96 expenses = R 1313.04 Cash flow positive.

Purchase with Cash:

  • Monthly Levy =R 880.67 pm
  • Rental Management fee (if applicable) =R 569.25 pm
  • Total = R 1449.92 pm


R 4500.00 rental income – R 1449.92 expenses = R 3050.08 Cash-flow positive.

Gross Yield: 27% at R 4500.00 rental income and R 200 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 113 Banket Street, Joubert Park
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Hillbrow
  • Postal code / ZIP: 2198
Open on Google Maps
  • Property ID 842
  • Property Type Sectional Title
  • Property status Sold
  • Bedrooms 2
  • Bathrooms 1
  • Size 81 Sqm
  • Land area 4,981 SqFt
  • Label Invest
  • Number of flats in building: 41

Contact

Ian

Property Agent
reception@mamela.co.za
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