Tafelberg is located in Banket Street, Joubert Park. This area is a favourite amongst investors and tenants.
The block has audited financial statement for 2019.
The building is located close to the Netcare Rand Hospital, the SAPS and many schools and shops.
A sound investment indeed!
Number of flats in building: 89.
Size: 38 sqm.
Levy: R 477.51 pm. City Accommodations (011) 720 5334
Original bachelor unit. The apartment has a separate bathroom consisting of a shower, basin and toilet. The kitchen is also separated. The unit also has an enclosed balcony.
The unit is currently vacant. According to rental managers in the area the general rental income is between R3 000.00 pm and R3 200.00 p/m, if the property is upgraded to their specifications.
The unit is in a bad condition and requires all around maintenance, including painting, plumbing, electrical work etc. A detailed maintenance quote can be supplied to the successful buyer on request.
No. According to the Body Corporate, 4 people may reside in the unit.
Closest Amenities:
| Name | Type | Suburb | Distance |
| Police – SAPS | Emergency | Hillbrow | 0.63 km. |
| Engen | Services | Hillview | 0.44 km. |
| McDonalds | Shops | Hillbrow | 0.25 km. |
Calculation:
Purchase with Bond (90%):
| R130 000.00 Bond at 7% | =R 907.00 p.m. |
| Monthly Levy | =R 477.51 p.m. |
| Rental Management fee (if applicable) | =R 368.00 p.m. |
| Total | R 1 752.51 p.m. |
R 3 200.00 rental income – R 1 752.51 expenses = R 1 447.49 Cashflow positive.
Purchase with Cash:
| Monthly Levy | =R 477.51 p.m. |
| Rental Management fee (if applicable) | =R 368.00 p.m. |
| Total | R 845.51 p.m. |
R 3 200.00 rental income – R 845.51 expenses = R 2 354.49 Cashflow positive.
Gross Yield: 39% at R 3 200.00 rental income and R 130 000.00 cash offer.
