Villa D’Este Ref 974

973

Property ID

42 Sqm

Size

1

Bedroom

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.

Bachelor unit.

The flat has a separate bathroom consisting of a bath, basin and toilet as well as a separate kitchen and build in cupboards and a geyser, open balcony and a living area.

The unit is currently occupied and the tenant is paying R1 900.00 p.m. (Totally undercharged)

According to rental managers in the area a rental income of between R2 800.00 p.m. and R3 200.00 p.m. can be achieved, if the property is upgraded to their specifications.

This unit needs slight maintenance. A detailed maintenance quote will be provided by the successful buyer.

According to the Body Corporate, 2-3 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%):

R100 000.00 Bond at 8.25% = R 767.00 p.m.
Monthly Levy = R 981.00 p.m.
Rental Management fee (if applicable) = R 345.00 p.m.
Total = R 2 093.00 p.m.


R 3 000.00 rental income – R 2 093.00 expenses = R 907.00 Cash flow positive.

Purchase with Cash:

Monthly Levy = R 981.00 p.m.
Rental Management fee (if applicable) = R 345.00 p.m.
Total = R 1 326 p.m.


R  3 000.00 rental income – R 1 326 expenses = R 1 674.00 Cash flow positive.

Gross Yield: 36% at R 3 000.00 rental income and R100 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 3 Fife Avenue, Berea
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Berea
Open on Google Maps
  • Property ID 973
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1
  • Bathrooms 1
  • Size 42 Sqm
  • Label R 100 000.00

Contact

Ian

Property Agent
reception@mamela.co.za
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