An opportunity not to be missed. This is a great investment for the investor who would like to purchase a full title student house.
Very well situated – Ideal location for students!
Building is very well maintained and managed.
Student House Ref 977
977
Property ID
495 Sqm
Size
16
Bedrooms
4
Bathrooms
Description
Number of flats in building: 16Rooms in the building.
Size: 495 sqm. (STAND)
Levy: The expenses of the block are as per July 2021:
- Electricity – Summer +-R1500, Winter +- R4000. Average R2125 per month.
Fibre – R1000
Netflix – R169
Cleaner – R1000 average
Insurance – R562.94
Alarm – R665
Cleaning and general – R150
Annual fire service – R700 (once per year)
Repairs and Maintenance – R500 (average over the period) - Levies R1010.38
Total R 6 682.32
This Building consists of 16 Rooms and 4 bathrooms.
The house offers a big kitchen and a open plan living room with shared facilities such as washing room, garden, etc
The owner is currently receiving R 22 850.00 p.m. As rooms are vacant at the moment, R 40 350.00 – R50 700.00 p.m. can be achieved if the building is fully occupied and the property is upgraded to their specifications. If the property is NASFAS approved you can get up to R 68 592.00 rent p.m Currently, Mamela is successfully managing similar blocks and we are capable to manage this block as well.. Please click here for a detailed Rent roll.
The block is in a good condition with minor touch-ups needed and almost fully let.
Calculation:
Purchase with Bond (50%):
| R 2 600 000.00 Bond at 7.25% | =R 10 275.00 p.m. |
| Levy | =R 6 682.32 p.m. |
| Rental Management fee (if applicable) | =R 5 830.50 p.m. |
| Total | R 22 787.82 p.m. |
R 50 700.00 rental income – R 22 787.82 expenses = R27 912.18 Cashflow positive.
Purchase with Cash:
| Levy | =R 6 682.32 p.m. |
| Rental Management fee (if applicable) | =R 5 830.50 p.m. |
| Total | R 12 512.82 p.m. |
R 50 700.00 rental income – R 12 512.82 expenses = R 38 187.18 Cash Flow Positive
Gross Yield: 23.4% at R 50 700.00 rental income and R 2 600 000.00 cash offer.
Would you like to make an offer on this property?
Address
Address:
Johannesburg, Westdene
- Country: South Africa
- Province / State: Gauteng
- City / Town: Johannesburg
- Property ID 977
- Property Type Full - Title
- Property status Sold
- Rooms 16
- Bedrooms 16
- Bathrooms 4
- Size 495 Sqm
- Label Invest, R2 600 000.00
- Number of flats/rooms in building: 16
File Attachments
Rent-roll.pdf
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