St Anthony Ref 863

863

Property ID

66 Sqm

Size

1

Bedroom

1

Bathroom

Description

St Anthony is in Joubert Park, Johannesburg close to Eden Park Primary School & Park Central Shopping centre.

The block has shown stability over the past few years as investors are enjoying a comfortable rental return on their investments.  The block is also located right in front of a BRT bus station in Wolmarans street.

A great opportunity with a great return!

Number of flats in building: 50.

Size: 66 sqm.

Levy: R1 169.76 pm. Managed by St. Anthony Body Corporate 083 711 7677.

A spacious one bedroom flat with 2 living areas. One bathroom consisting of a bath, basin and toilet. It has a spacious living area that has been subdivided into three sleeping stations. There is a separate kitchen, and the unit has a prepaid electricity meter.

The unit is currently tenanted, and the owner is receiving R 5 300.00 p.m. for rental.  Mamela Estates is also managing similar units in the building for a market related rental of R 4 000.00 p.m. According to rental managers in the area a rental income of between R 4 000.00 p.m. and R 4 500.00 p.m. can be achieved, if the property is upgraded to their specifications.

The flat is not in a great condition. In order to keep the tenant for this high rental, there is maintenance that needs attention.  Items specified includes tiling & painting and the replacement of the geyser to name a few.  A detailed maintenance quote will be supplied to the successful investor.

Yes. According to the Body Corporate up to 6 people may reside in the unit.

Closest Amenities:

Name Type Suburb Distance    
Netcare – Rand Hospital Emergency Services Joubert Park 1.01 km.
Eden Park Primary School School Joubert Park 0.07 km.
Park Central Shops/Entertainment Joubert Park 0.46 km.

Calculation:

Purchase with Bond (90%):

 

R 150 000 Bond at 10.25 % =R 1 325.00 p.m.
Monthly Levy =R 1 169.76 p.m.
Rental Management fee (if applicable) =R 609.50 p.m.
Total R 3 104.26 p.m.


R 5 300.00 rental income – R 3 104.26 expenses = R 2 195.74 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 1 169.76 p.m.
Rental Management fee (if applicable) =R 609.50 p.m.
Total R 1 779.26 p.m.                       


R 5 300.00 rental income – R 1 779.26 expenses = R 3 520.74 Cashflow positive.

Gross Yield: 42.4% at R 5 300.00 rental income and R 150 000.00 cash offer.

 

Would you like to make an offer on this property?

Address

Address: 64 Wolmarans Street, Joubert Park
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Joubert Park
  • Postal code / ZIP: 2198
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  • Property ID 863
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1
  • Bathrooms 1
  • Size 66 Sqm
  • Label Invest
  • Number of flats in building: 50

Contact

Ian

Property Agent
reception@mamela.co.za
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