Villa D’Este Ref 892

892

Property ID

42 Sqm

Size

1

Bathroom

Description

Villa D’Este 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. The building is insured, there is security and also working lifts.

This is an opportunity not to be missed!

Number of flats in building: 65.

Size: 42 sqm.

Levy: R 981.00 pm. Villa D’Este Body Corporate (072) 102 6474.

An original bachelor unit. The flat has a separate bathroom consisting of a bath, basin and toilet as well as a separate kitchen. The unit is equipped with a working geyser and is neatly tiled.

The current owner is getting R2 400.00 p.m. According to rental managers in the area a rental income of between R2 400.00 pm and R2 500.00 pm can be achieved, if the property is upgraded to their specifications.

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

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

Closest Amenities:

 

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%):

 

R 90 000.00 Bond at 9.75% =R 768.00 p.m.
Monthly Levy =R 981.00 p.m.
Rental Management fee (if applicable) =R 276.00 p.m.
Total R 2 025.00 p.m.


R 2 400.00 rental income – R 2 025.00 expenses = R 375.00 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 981.00 p.m.
Rental Management fee (if applicable) =R 276.00 p.m.
Total R 1 257.00 p.m.                      


R 2 400.00 rental income – R 1 257.00 expenses = R 1 143.00 Cashflow positive.

Gross Yield: 32% at R 2 400.00 rental income and R 90 000.00 cash offer

Would you like to make an offer on this property?

Address

Address: 1 Fife Avenue, Berea
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Berea
Open on Google Maps
  • Property ID 892
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bathrooms 1
  • Size 42 Sqm
  • Label Invest
  • Number of flats in building: 65

Contact

Ian

Property Agent
reception@mamela.co.za
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