Brokerage | Multi-let Opportunity

Back yard entrance 2

johannesburg West

496 SQM offering a 4 bedroom main dwelling and
double story cottage (to be built) with capacity for 6 outside cottages.
•Slab erected outside with building plans
(not approved by council) for 6 bedroom cottage and partial complete single cottage outside.
•Cottage completion work and main dwelling renovation is estimated at R500 000 and is provisioned for however requires an official building quote. Note this is estimated and could be more or less, the provision mentioned.
•Excellent location with easy access to major amenities and major transport routes.
•It is so close to UJ Kingsway Campus, Campus Square, and Melville BLVD.

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Multi-let Opportunity

Asking Price R1 150 000
Negotiated Price R1 050 000
Capital Costs R 1 716 090

•10 Bedrooms rented at R 2500
•Rental Income R 32 000
•Bond Repayment R 8 141 (@prime 7%)
•Operating cost R7 082
(Water, rates, management fee, maintenance
fee insurance & miscellaneous)
•Monthly Expenses R 15 223
•Net Cash Flow R 16 777
•Annual Cash Flow R 201 324