Sylray Mansions Ref 1004

1004

Property ID

93 Sqm

Size

2

Bedrooms

1

Bathroom

Description

Sylray Mansions is a well-known building located in Berea. 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!

The unit is 93 sqm

Levies: R1 909.01

Big TWO bedroom units, open plan living area. Full Bathroom with a bath, basin and toilet.

The unit will be vacant upon registration. The potential rent for the unit is between R4500.00 – R5000.00 can be achieved if the property is upgraded to standard.

The unit is in need of maintenance. A detailed maintenance quote will be supplied to the successful buyer.

No. According to the Body Corporate, 4 people may reside per unit.

Name Type Suburb Distance      
SPAR Fontana Highpoint Shops Berea 0.45 km.
Afro Combs College Education Joubert Park 0.47 km.
Netcare Rand Hospital Emergency Services Joubert Park 0.66 km.

Calculation:

 

Purchase with Bond (90%):

 R230 000.00 Bond at 7% =R 1 552.00 p.m.
Monthly Levy =R 1 909.01 p.m.
Rental Management fee (if applicable) =R 517.50 p.m.
Total R 3 187.45 p.m.


R 3 187.45 rental income – R 3 187.45 expenses = R 374.49 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 1 909.01 p.m.
Rental Management fee (if applicable) =R 517.50 p.m.
Total R 2 426.51 p.m.                      


R 4 500.00 rental income – R 2 426.51 expenses = R 2 073.49 Cashflow positive.

 

Gross Yield: 23% at R 4 500.00 rental income and R 230 000.00 cash offer.

 

Would you like to make an offer on this property?

Address

Address: 11 fife avenue, Berea
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Berea
Open on Google Maps
  • Property ID 1004
  • Property Type Sectional Title
  • Property status Buy
  • Rooms 2
  • Bedrooms 2
  • Bathrooms 1
  • Size 93 Sqm
  • Label R230 000.00

Contact

Ian

Property Agent
reception@mamela.co.za
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