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2 Bed Apartment in Buccleuch

R 965 000

2 Beds

2 Baths

Can I afford this?

Floor Area 86 m² Rates R 652 Levy R 957

2 BEDS 2 BATH UNIT FOR SALE IN BUCCLEUCH

INVESTMENT PROPERTY WITH GOOD RETURNS!!!!

SEPARATE 1-BED UNITS BUT CONSIDERED AS ONE

The property is targeted at investors looking for rental income. It is one unit in a complex. The unit is divided into portions, like all the units in the complex. They have been built to look like two separate units, but at the deeds office, it is one unit. Each owner gets two rental incomes from 2 different tenants but pays only one levy to the body corp and one rate and taxes to the municipality. Each portion of the unit has a kitchen with a gas stove for cheap cooking, granite countertops, an open-plan lounge, a separate bedroom, and a bathroom (mes). So, the 1 unit comprises two kitchens, two open-plan lounges, two bedrooms, and two bathrooms. Each portion of the unit has pre-paid electricity which the tenants pay themselves. Water is included in the levies. The complex has a pool, clubhouse, braai facilities, 24hr security, and is close to several amenities, shopping centers, and schoolseasy access to the Highway.

Here are the financial details:

2 Lease contracts are in place (1 for each portion of the unit)

Each portion of the unit is 43m2, so in total, the units are 86m2

Total rental income = R11000pm (R5500 x 2 from 2 tenants)

Other costs:

Domestic Effluent - R598.44

CSOS- R21.11

Levy Maintenance - R465.83