Stamford Hall Ref 914

914

Property ID

120 Sqm

Size

2

Bedrooms

1

Bathroom

Description

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

Mamela is currently managing numerous units in the building and our investors are getting great return on their acquisitions.

This is an opportunity not to be missed!

Number of flats in building: 63.

Size: 120 sqm.

Levy: R 1068.00 pm. Energy Billing (076) 991 9887

Original two-bedroom unit with built-in cupboards. The flat has a separate bathroom consisting of a bath and basin with a separate toilet. There is a separate kitchen and an open balcony. The apartment has a spacious living area that is utilized as an additional sleeping station. The unit is very neatly tiled.

The current owner is receiving R4 200.00 p.m. as they are renting to friends and family. According to rental managers in the area a rental income of between R5 500.00 pm and R6 000.00 pm can be achieved, if the property is upgraded to their specifications. Mamela Estates is successfully managing multiple units in this building.

The unit is in a fair condition and requires definite paint work in some areas, a new toilet seat, kitchen cupboards to be cleaned/painted or replaced and general touch-ups. 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      
Fire Station Emergency Berea 0.32 km.
SPAR Shops Hillbrow 0.18 km.
Barnato Park High School Education Hillbrow 0.18 km.

Calculation:

 

Purchase with Bond (90%):

 

R230 000.00 Bond at 7% =R 1 605.00 p.m.
Monthly Levy =R 1 068.00 p.m.
Rental Management fee (if applicable) =R 690.00 p.m.
Total R 3 363.00 p.m.


R 6 000.00 rental income – R 3 363.00 expenses = R 2 637.00 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 1 068.00 p.m.
Rental Management fee (if applicable) =R 690.00 p.m.
Total R 1 758.00 p.m.                      


R 6 000.00 rental income – R 1 758.00 expenses = R 4 242.00 Cashflow positive.

 

Gross Yield: 31% at R 6 000.00 rental income and R 230 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 30 Park Lane, Joubert Park
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Joubert Park
Open on Google Maps
  • Property ID 914
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 2
  • Bathrooms 1
  • Size 120 Sqm
  • Number of flats in building: 63

Contact

Ian

Property Agent
reception@mamela.co.za
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