R 450 000

1 Bedroom Apartment / Flat for Sale in Congella

1
1
1
63 m²

NO TRANSFER DUTY

1,5 bedroom in Umbilo with parking bay

Located in Mount Royal close to the corner of Alan Paton / Umbilo Rd this newly listed property will suit both end users and investors alike.

Located on 4th floor the property has great views and is distanced from street noise.

Whilst needing some renovation (especially in the kitchen) the property represents good value as a 100% bond will require a monthly installment that is similar to the current rental being achieved.

Located on the side of the building you will not have other residents walking past your front door.

A steel security gate is installed at the entrance of the apartment. Current layout of the lounge and bedroom has been modified to accommodate two separate tenants with both having access to the common bathroom and kitchen.

If required the property can be delivered vacant upon transfer or the new investor owner could enter into leases...

Located in Mount Royal close to the corner of Alan Paton / Umbilo Rd this newly listed property will suit both end users and investors alike.

Located on 4th floor the property has great views and is distanced from street noise.

Whilst needing some renovation (especially in the kitchen) the property represents good value as a 100% bond will require a monthly installment that is similar to the current rental being achieved.

Located on the side of the building you will not have other residents walking past your front door.

A steel security gate is installed at the entrance of the apartment. Current layout of the lounge and bedroom has been modified to accommodate two separate tenants with both having access to the common bathroom and kitchen.

If required the property can be delivered vacant upon transfer or the new investor owner could enter into leases with the existing tenants to achieve a gross rental of between R5,000 – R6,000 per month

After settling levy and rates a nett return in excess of 11% is anticipated. However, an initial renovation cost of approx R50,000 would need to be committed to the property so as to ensure continued tenancy. This would reduce the ROI to 10%

An open parking bay is allocated to this apartment and is available from the Body Corporate at a minimal monthly rental of less than R50 pm.

A refurbishment campaign is underway with the Body Corporate and final improvements including the repair / replacement of the lift are being investigated (Currently the lift does not function and the flat is on the 4th floor)

Security is provided from 6 pm to 6 am every day

The bedroom has an enclosed balcony which is large enough to accommodate a double bed. It is also ideal as a work from home study.

A pre paid electricity meter is installed and water is monitored monthly an added to the levy account

A ground level there is a grassed courtyard with benches and table for usage by residents.

Easy access to public transport and less than 3 km to CBD

NB : This property forms part of a deceased estate so Master's approval is required. Heir's consent has been secured in principle

Bedrooms: 1

Bathrooms: 1

Parking: 1

No Pets Allowed

Listing number: P24-115063192, Image number: 1

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Listing number: P24-115063192, Image number: 8

Listing number: P24-115063192, Image number: 9

Property Overview

Listing Number

115063192

Type of Property

Apartment / Flat

Street Address

37 Mount Royal, Congella

Description

Top Floor

Lifestyle

Complex, Metropolitan

Listing Date

12 October 2024

Floor Size

63 m²

Price per m²

R 7 143

Levies

R 1 230

No Transfer Duty

Yes

Rates and Taxes

R 400

Pets Allowed

No

Rooms

Bedroom

Wooden Floors, Balcony, Built-in Cupboards, Double Bedroom

Bathroom

Bath, Toilet and Basin

Lounge

Wooden Floors

External Features

Parking

Open Bay in secure area

Secure Parking

Other Features

Nearby Public Transport

Bus, Minibus Taxi

Wheelchair Accessible

No

Points of Interest

Bond Calculator

*Disclaimer: Please note that by default this calculator uses the prime interest rate for bond payment calculations. This is purely for convenience and not an indication of the interest rate that might be offered to you by a bank. This calculator is intended to provide estimates based on the indicated amounts, rates and fees. Whilst we make every effort to ensure the accuracy of these calculations, we cannot be held liable for inaccuracies. Property24 does not accept liability for any damages arising from the use of this calculator.