Bachelor apartment for sale in 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 44m2 unit offers a spacious bachelor apartment with an open plan kitchen, and separated full bathroom.

Rental income of R3200.00 per month excluding utilities can be achieved if maintained properly.

Calculation:

Purchase with Bond (90%):

R 118 750.00 Bond at 90 %
=R 1 158.00 pm.
Monthly Levy
=R 1 406.59 pm.
Rental Management fee (if applicable)
=R 368.00 pm.
Total
=R 2 932.59 pm.

R 3 200.00 rental income – R 2 932.59 expenses
=R 267.41 Cashflow positive.

Purchase with Cash:

Monthly Levy
=R 1 406.59 pm.
Rental Management fee (if applicable) =R 368.00 pm.
Total
=R 1 774.59 pm.

R 3 200.00 rental income – R 1 774.59 expenses
=R 1 425.41 Cashflow positive

Gross Yield: 32% at R 3 200.00 rental income