ELSPARK - R460,000 - 2 BED 2ND FLOOR APARTMENT - 61m² - INVESTOR'S DREAM!
Currently tenanted with GREAT PAYING TENANTS - R5,000 pm!
PROPERTY DETAILS:
- 2nd Floor Apartment - 61m²
- 2 Large Bedrooms with Built-In Cupboards (BIC)
- 1 Full Bathroom
- Balcony
- Spacious Lounge
- Open Plan Melamine Fitted Kitchen
FINANCIALS - LOW EXPENSES = HIGH PROFIT:
Rental Income: R5,000 pm
Tenant Pays: Rent + Water + Sewerage + Refuse (Owner hassle-free!)
Monthly Expenses Breakdown:
Rates: R364.34 less VA Value Exclusion/Discount R146.13 = ONLY R218.21 NET PAYABLE
Levies: R759.39
Reserve Fund: R144.66
CSOS Levy: R5.39
TOTAL LEVIES: R909.44
TOTAL OWNER EXPENSES: Only R1,127.65 pm (R218.21 + R909.44)
NET PROFIT: ± R3,872.35 pm BEFORE BOND!
YIELD:
Gross Yield: 13.04%
Net Yield: 10.1% - EXCELLENT RETURN!
SECURITY - TOP CLASS:
Very Secure Complex, Electric Fence, CCTV Cameras, 24 Hour Guard - Peace of mind!
LOCATION - SUPER CONVENIENT:
Close to Schools and Major Shopping Centres
Easy Access to N17, Wadeville, Alrode and Anderbolt
Close to Public Transport
Perfect for Investor or First-Time Buyer!