Ark Royal is one of the sectional title blocks in Hillbrow with exceptional potential. A sound opportunity not to be missed.
This is a spacious 82m2 apartment that has an one bedroom, lounge(enclosed and can be used as a bedroom), small living area, bathroom(separated toilet) and an open balcony.
The unit is currently tenanted, and the rental income achieved is R 4 550.00. Rental amount of R4800.00 can easily be achieved if maintained properly.
Calculation:
Purchase with Bond (90%):
R 250 000.00 Bond at 90 %
=R 2 438.00 pm.
Monthly Levy
=R 1 431.01 pm.
Rental Management fee (if applicable)
=R 552.00 pm.
Total
=R 4 421.01 pm.
R 4 800.00 rental income - R 4 421.01 expenses
=R 378.99 Cashflow positive.
Purchase with Cash:
Monthly Levy
=R 1 431.01 pm.
Rental Management fee (if applicable)
=R 552.00 pm.
Total
=R 1 983.01 pm.
R 4 800.00 rental income – R 1 983.01 expenses
=R 2 816.99 Cashflow positive.
Gross Yield: 23% at R 4 800.00 rental income
