Bachelor apartment for sale at African City.

African City located in Central – Johannesburg is the centre of attraction for investors.

The building is stable with good security providing safe conditions for its residents.

This 33m2 unit offers a spacious bachelor apartment with an open plan kitchen, and separated full bathroom.

The unit is tenanted and achieves a rental income of R3200.00 per month excluding utilities.

Calculation:

Purchase with Bond (90%):

R 140 000.00 Bond at 90 %
=R 1 365.00 pm.
Monthly Levy
=R 1 137.71 pm.
Rental Management fee (if applicable) =R 368.00 pm.
Total
=R 2 870.71 pm.

R 3 200.00 rental income – R 2 870.71 expenses
=R 329.29 Cashflow positive.

Purchase with Cash:

Monthly Levy
=R 1 137.71 pm.
Rental Management fee (if applicable) =R 368.00 pm.
Total
=R 1 505.71pm

R 3 200.00 rental income – R 1 505.71 expenses
=R 1 694.29 Cashflow positive.

Gross Yield: 27% at R 3 200.00 rental income