Sausalito is well maintained, and the building is insured by Old Mutual. Perfectly located on Raleigh Street and close to amenities such as the Netcare – Rand Hospital and a walking distance to Yeoville Recreation Centre.
The current financial statements are in process with the Auditors.
Bargain Property!
Number of flats in building: 12
Size: 88
Levy: R 864.38.00 pm Managed by Zulberg Estates 011 786 1119
One-bedroom unit with an en-suite bathroom that consist of a bath, basin and a toilet. There are two living areas with a bar unit and an outside braai area. There is a separate kitchen with a working geyser. The unit has pre-paid meters.
R3 800 is currently paid to the owner. According to rental managers in the area a rental income of between R 3 800.00 p.m. to R 3 900.00 p.m. can be achieved, if the property is upgraded to their specifications.
The unit is in good condition though it needs some maintenance, the blinds, windows and some parts of the flooring needs attention. A detailed maintenance quote will be supplied to the successful buyer.
No. According to the Body Corporate 2 people may reside in the unit.
Closest Amenities:
|
Name |
Type |
Suburb |
Distance |
| Yeoville Boy’s Primary School | Education | Yeoville |
0.30 km. |
| Fire Station | Emergency Services | Berea |
1.03 km. |
| Netcare Rand Hospital | Medical | Yeoville |
1.16 km. |
Calculation:
Purchase with Bond (90%):
R 3 900.00 rental income – R 3 167.88 expenses = R 732.12 Cash flow positive.
Purchase with Cash:
R 3 900.00 rental income – R 1 312.88 expenses = R 2 587.12 Cash-flow positive.
Gross Yield: 22.29% at R 3 900.00 rental income and R 210 000.00 cash offer.
