2 Bedroom apartment for sale in Algarve.

R275,000
Property Details

Algarve is one of the sectional title blocks in Hillbrow with exceptional potential. A sound opportunity not to be missed.

This is a spacious 83m2 apartment that has two bedrooms, lounge, kitchen with a bathroom and separated toilet. There is also an open balcony.

The apartment is newly renovated and in a good condition, perfect for first time buyers who would like to rent the apartment out at a later stage for investment purposes. The unit is currently tenanted, and the rental income achieved is R 5 500-00.

Calculation:

Purchase with Bond (90%):

R 275 000.00 Bond at 90 %

=R 2 677.00 pm.

Monthly Levy

=R 1 383.12 pm.

Rental Management fee (if applicable) =R 632.50 pm.

Total

=R 4 692.62 pm.

R 5 500.00 rental income - R 4 692.62 expenses

= R 807.38 Cashflow positive.

Purchase with Cash:

Monthly Levy

=R 1 383.12 pm.

Rental Management fee (if applicable)

=R 632.50 pm.

Total

=R 2 015.62 pm.

R 5 500.00 rental income – R 2 015.62 expenses

=R 3 484.38 Cashflow positive.

Gross Yield: 24% at R 5 500.00 rental income

Property Features
Property Type
Apartment
Bedrooms
2
Bathrooms
1
Floor Size
83m²
Living Area
1
Costs and Terms
Levy
±R1,383.12
Location
Make an enquiry
Interested in this property? Please fill in your details below, and we will contact you as soon as possible.
By clicking on "submit" you agree to our privacy policy.
Property Alerts
Receive email alerts for properties matching your criteria.
You may also be interested in these properties
Property #2211041, Apartment for sale in Hillbrow
R 245,000
Apartment for sale in Hillbrow
1 Bedroom Apartment For Sale In Ark Royal.
This is a newly renovated apartment in Ark Royal, Hillbrow with potential for investment, offering positive cashflow and a high gross yield.
1
1
82m²
Property #2196318, Apartment for sale in Hillbrow
Reduced
R 200,000
Apartment for sale in Hillbrow
2 Bedroom Apartment For Sale In Sunnycrest.
Sunnycrest is a sectional title block in Hillbrow with a 97m2 apartment that has rental income potential and positive cash flow.
2
1
97m²
Property #2204549, Apartment for sale in Hillbrow
R 215,000
Apartment for sale in Hillbrow
1 Bedroom Apartment For Sale In Hyde Park Corner.
The text describes a spacious apartment in Hyde Park Corner with rental income potential and positive cashflow for investors.
1
1
77m²