Stone Acres Ref 889

889

Property ID

113 Sqm

Size

2

Bedrooms

1

Bathroom

Description

Great Investment opportunity! Stone Acres is located in Alexandra Street in Berea near to Netcare Rand Hospital.

The building is in a good condition and the lifts are in working order. There are security guards at the entrance of Stone Acres who strictly monitors access. The block is close to all amenities such as Fire Station – Berea, which makes it a favourite amongst both tenants and investors.

The building is insured and managed by Zulberg Property Management.A great investment that might be negotiable.

Number of flats in building: 48.

Size: 113 sqm.

Levy: 
R 2 390.67 Managed by Zulberg Property Management 011 789 1119.

A spacious two-bedroom unit with one bedroom sub-divided into a third room. There is a roomy separate kitchen and a separate bathroom with a bath, basin and a toilet. The unit is carpeted and tiled.

The current owner is getting R7 210.00 p.m. According to rental managers in the area a rental income of between R6 900.00 pm and R7 300.00 pm can be achieved, if the property is upgraded to their specifications.

The property is in a fairly good condition but requires minor maintenance. A detailed maintenance quote will be supplied to the successful buyer. 

No. According to the Body Corporate 6 people may stay in the unit.

Closest Amenities:

Name Type Suburb Distance 
Saint Edna`s Secondary School Emergency Services Berea 0.33 km.
BP Glenrob Motors Services Berea 0.93 km.
Spar Shopping Centre Hillbrow 0.18 km.

Calculation:

Purchase with Bond (90%):

R 305 000.00 Bond at 10% =R 2 649.00 pm
Monthly Levy =R 2 390.67 pm
Rental Management fee (if applicable) =R 829.15 pm
Total R 5 868.82 pm

R 7 210.00 rental income – R 5 868.82 expenses = R 1 341.18 Cashflow positive. 

Purchase with Cash:

Monthly Levy =R 2 390.67 pm
Rental Management fee (if applicable) =R 829.15 pm
Total R 3 219.82 pm

R 7 210.00 rental income – R 3 219.82 expenses = R 3 990.18 Cashflow positive.

Gross Yield: 28.36% at R 7 210.00 rental income and R 305 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 36 Alexandra Street, Berea
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Berea
Open on Google Maps
  • Property ID 889
  • Property Type Sectional Title
  • Property status Sold
  • Bedrooms 2
  • Bathrooms 1
  • Size 113 Sqm
  • Label Invest
  • Number of flats in building: 48

Contact

Ian

Property Agent
reception@mamela.co.za
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