Villa D’Este Ref 940

940

Property ID

101 Sqm

Size

2

Bedrooms

2

Bathrooms

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: 101 sqm.

Levy: R 1440.19 pm. Villa D’Este Body Corporate (072) 102 6474.

An original two-bedroom unit.

The flat has a separate bathroom consisting of a bath, basin together with a separate bathroom which consists of a toilet as well as a separate kitchen and build in cupboards. The unit is equipped with a geyser and is neatly tiled.

The current owner is getting R5 600.00 p.m.

According to rental managers in the area a rental income of between R5 300.00 pm and R5 800.00 pm can be achieved, if the property is upgraded to their specifications.

The property is in a fairly good condition and requires some general maintenance, touch ups of paint, cleaning. A detailed maintenance quote will be supplied to the successful buyer. 

No. According to the Body Corporate, 4 people may reside in the 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%):

 

R195 000.00 Bond at 7% =R 1361.00 p.m.
Monthly Levy =R 1440.19 p.m.
Rental Management fee (if applicable) =R 644.00 p.m.
Total R 3445.19 p.m.


R 5 600.00 rental income – R 3445.19 expenses = R 2154.81 Cashflow positive.

Purchase with Cash:

 

Monthly Levy =R 1440.19 p.m.
Rental Management fee (if applicable) =R 644.00 p.m.
Total R 2084.19 p.m.                      


R 5 600.00 rental income – R 2 084.19 expenses = R 3515.81 Cashflow positive.

 

Gross Yield: 34.46% at R 5600.00 rental income and R 195 000.00 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 940
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 2
  • Bedrooms 2
  • Bathrooms 2
  • Size 101 Sqm
  • Number of flats in building: 443

Contact

Ian

Property Agent
reception@mamela.co.za
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