Sylray Mansions Ref 1007

1007

Property ID

42 Sqm

Size

1

Bedroom

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 42 sqm

Levies: R1 189.00

Big one bedroom unit that has a separated kitchen, bathroom with bath basin and toilet and also a separated closed living area that can be utilized as a second bedroom.

The unit is currently occupied and the rent is R3000.00 The potential rent for the unit is between R2800.00 – R3500.00 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%):

 R160 000.00 Bond at 7% =R 1 227.00 p.m.
Monthly Levy =R 11 89.00 p.m.
Rental Management fee (if applicable) =R 345.00  p.m.
Total R 2 761.00 p.m.


R 3 000.00 rental income – R 2 761.00 expenses = R 239.00 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 1 189.00 p.m.
Rental Management fee (if applicable) =R 345.00 p.m.
Total R 1 534.00 p.m.                      


R 3 000.00 rental income – R 1 534.00 expenses = R 1 466.00 Cashflow positive.

 

Gross Yield: 23% at R 3 000.00 rental income and R 160 000.00 cash offer.

 

Address

Address: 11 fife avenue, Berea
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Berea
Open on Google Maps
  • Property ID 1007
  • Property Type Sectional Title
  • Property status Buy
  • Rooms 2
  • Bedrooms 1
  • Bathrooms 1
  • Size 42 Sqm
  • Label R230 000.00

Contact

Ian

Property Agent
reception@mamela.co.za
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