Westmorland Ref 957

957

Property ID

67 Sqm

Size

1

Bedroom

1

Bathroom

Description

Westmorland is located in O’Reilly Road, Berea. This area is a favourite amongst investors and tenants.

The block has audited financial statement available. The Managing Agency is currently awaiting the audited statements for 2020.

The building is insured and has private security which is a great bonus.

A sound investment indeed!

Number of flats in building: 72.

Size:  67 sqm.

Levy: R 1 477.00 pm. Westmorland Body Corporate.

One-bedroom unit with a separate bathroom. The unit has a kitchen with built in cupboards and a living area.

The current owner is receiving R2 300.00 p/m. According to rental managers in the area the general rental income is between R 4 200.00 pm and R 4 300.00 p/m, if the property is upgraded to their specifications.

The unit is in good condition and was recently renovated but needs slight maintenance.

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

Name Type Suburb Distance    
Thembekile Primary School Education Berea 0.29 km.
Police SAPS Emergency Service Hillbrow 0.82 km.
Spar – Fontana Highpoint Shops Hillbrow 0.39 km.

 

Calculation:

Purchase with Bond (90%):

  • R 180 000.00 Bond at 7% =R 1256.00 p.m.
  • Monthly Levy =R 1477.00 p.m.
  • Rental Management fee (if applicable) =R 494.50 p.m.
  • Total =R 3227.50 p.m.

 

R 4300.00 rental income – R 3227.50 expenses = R 1072.50 Cash flow positive.

Purchase with Cash:

  • Monthly Levy =R 14770.00 pm
  • Rental Management fee (if applicable) =R 494.50 pm
  • TotalR 1971.50 pm

R 4300.00 rental income – R 1971.50 expenses = R 2328.50 Cash-flow positive.

Gross Yield: 26.6% at R 4300.00 rental income and R 180 000.00 cash offer.

Would you like to make an offer on this property?

Address

Address: 36 O'Reilly Road, Berea
  • Country: South Africa
  • Province / State: Gauteng
  • City / Town: Johannesburg
  • Neighborhood: Berea
Open on Google Maps
  • Property ID 957
  • Property Type Sectional Title
  • Property status Sold
  • Rooms 1
  • Bedrooms 1
  • Bathrooms 1
  • Size 67 Sqm
  • Label R180 000.00

Contact

Ian

Property Agent
reception@mamela.co.za
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