17 Bedroom Apartment For Sale in Berea, Johannesburg

Property description

EXCITING PORTFOLIO OF 17 FULLY-LET APARTMENTS IN LANDMARK "IMBALI" - GOING ON AUCTION!

Currently generating great passive income with 3 types of units available.

Imbali, resembling the style of Ponte, is a well-known, iconic building adjacent to Houghton Drive & Louis Botha Ave, Berea.

The units generally have well-sized main bedrooms with plenty of cupboard space.

Kitchens are spacious with living rooms leading to sunny open balconies offering impressive views of Sandton and Johannesburg South, depending on the position of the unit.


PORTFOLIO SUMMARY:

- Bachelor unit rental: R3,950p/m each (9 available, R&T's not levied)
- 1.5 Bed unit rental: R5,950p/m each (7 available)
- 2 Bed unit rental: R8,500p/m each (1 available)

- Some of the units come with parking. 13 spaces available.
- Electricity prepaid
- No rent increases for the last 3 years
- Rent standard for all units.
- Tenants pay an extra water levy of R50 per person.


MONTHLY GROSS INCOME:

9 x bachelors units: R35,550p/m.
2 Bed unit R8,500p/m.
7 x 1.5 Bed units R41,650 p/m.
= Gross R85,700 p/m.

Minus Levies of R30,000 p/m.

NET INCOME = R57,700 p/m.

Levies include water, however prepaid water meters are to be installed

GLA: 751 sqm

This portfolio promises to be an exciting opportunity at our upcoming Multi-Property Auction!

Property Address: "Imbali" 106 Tudhope Avenue, Berea.

Auction Details:

Type: OFF-SITE, ONLINE & TELEPHONIC

Auction Venue: Firzt Realty Company, 44 Glenhove Road, Melrose Estate, Johannesburg.

Date: Thursday, 29th February 2024

Time: 12:30 pm.

Registrations open 1hr prior to the start of the Auction.
Special viewings upon request.

For Online or Telephonic Registrations, Auction Rules, and T's & C's, please see our Auctions drop down tab on our website.