R825,000 
(was R880,000)

Maitland, Cape Town, Western Cape

Existing Cash flow positive buy-to-let investment opportunity in one of the fastest growing areas in Cape Town (with an abundance of tenants).

Recently refurbished 2-bed 1-bath sectional title apartments ready for occupation in early 2021. Invest alongside one of the big funds in the Cape Town property market. The fund owning the complex is only selling a few of the units, at a discounted price, keeping the balance as their own investment stock.

Investment Summary

  Investment Strategy: Buy-to-Let
  Property Type: Existing Residential Sectional Title (Refurbished)
  Occupation Date: Early 2021
  Deposit to Secure: No deposit.
  Purchase Costs: Bond and Transfer Excluded.
  Capital Growth: High capital growth area estimated at 9% due to UDZ, proximity to Cape Town CBD and public transport routes.
 Cash Flow: Positive by R236/mo at 100% finance and 7% interest
  Gross Rental Yield: 10,91%

R825,000 (was R880,000)

Maitland, Cape Town, Western Cape

Completed Cash flow positive buy-to-let investment opportunity in one of the fastest growing tenant markets in Cape Town.

Brand New 2-bed 1-bath sectional title apartments ready for occupation in early 2021. Invest alongside one of the big funds in the Cape Town property market. The fund owning the complex is only selling a few of the units, at a discounted price, keeping the balance of the units as their own investment stock. 

Investment Summary

  Investment Strategy: Buy-to-Let
  Property Type: New Residential Sectional Title
  Occupation Date: Early 2021
  Deposit to Secure: No deposit
  Purchase Costs: Bond and Transfer Excluded
  Capital Growth: High capital growth area estimated at 9% due to UDZ area, proximity to Cape Town CBD and public transport routes
 Cash Flow: Positive by R236/mo at 100% finance and 7% interest
  Gross Rental Yield: 10,91%

Investor Snapshot

Location

Maitland, Cape Town, Western Cape, 
South Africa

Property Details

  • 2 bedrooms, 1 bathroom
  • 40 Square Meters
  • Stylish open-plan living
  • High end kitchen appliances
  • Guarded security and parking
  • ​Centralised water heating system
  • ​Prepaid electricity

Financial Analysis

Purchase Price: R825,000
Rental Income: R7,500/month
Bond Repayment: -R5,489/mo (@ 7%)
Levies: -R800/mo
Rates and Taxes: -R300/mo
Cash Flow Surplus Year 1: +R236/mo
Cash Flow Surplus Year 2: + R661/mo
Cash Flow Surplus Year 3: + R1,196/mo

Why Invest In This Property?

  • Cash flow positive from day 1 including rental management and rental insurance.
  • ​The fund is retaining the majority of the units giving you the opportunity to invest alongside one of the big players in the market with a vested interest in the complex.
  • ​One of the fastest growing areas in Cape Town in close proximity to the CBD and on public transport routes.
  • An abundance of tenants with high demand for stylish living.
  • No deposit. 
  • Strong long term capital and income appreciation.

Location, Location, Location

The apartment complex is situated in the heart of Maitland on public transport routes and in close proximity to Cape Town CBD, nestled between shops, schools and other amenities. Stylish cash flow positive investment opportunities are a rare find is this high rental demand area.
CUSTOM JAVASCRIPT / HTML

Proximity

  • N1/M5 Intersection: 502m
  • ​Maitland Train Station : 412m
  • Maitland CBD: 602km
  • Maitland Secondary School: 706m
  • Paarden Eiland: 1.2km 
  • ​Cape Town Waterfront: 5.6km
  • The River Club: 1.19km 
  • ​Maitland Police Station: 335m
  • ​Cape Town Int. Airport: 10.76km

 The Area


The suburb of Maitland is named after Sir Peregrine Maitland who was governor of the Cape in the mid 1840s. 

Maitland is situated along a number of important transport networks connecting the Cape Town city bowl to the rest of the city and the suburb is in close proximity to Cape Town CBD on the outskirts of Observatory within walking distance from Voortrekker Main Road. 

The area is well serviced by the My City busses, two train stations and taxis offer a short commute to the CBD, Century City, Bellville and Paarden Island. 

Maitland is an established residential area with good schools, churches, shops and parks and is home to a variety of businesses from printing companies to media and transport companies.

The surrounding area comprises predominantly of commercial property, besides having previously residential properties now converted into small business premises. There are a number of business parks offering light industrial or office space, such as Maitland, Gateway, Olympic, The Bridge, Santos, Freeway as well as Oval Business Park. Warehousing is also readily available. 

Some firms which have their head offices in the Maitland area are Cape Cookies, Bags Direct, St. Elmo’s Pizzaway, in addition to Smart Office Connexion. Voortrekker Road is lined with commercial businesses, mainly relating to light industrial, DIY, auto parts or repairs, builders supplies, including suppliers of other, similar services or products.

Maitland is 10 km away from Cape Town International airport and 4.6 km from Cape Towns CBD. 

 Finding new property below R1m is extremely rare and fills a great need for affordable housing in close to the City with an abundant tenant market.

 Area Statistics

Population
Language
Education
Annual Household Income
Property % by Type
Investment Properties Ownership

 Area Tenant Profile

Rental Price Trends
Rental Price Distribution
Average Rent

Property Details

The Site

The complex consists of 29 apartments on 4 levels with basement parking on ground level.

The Units

There are 5 different unit floor plans, making each unit unique and with its own character.

Value Adding Features

  • 2-bedrooms, 1-bathroom
  • ​40 sqm in size.
  • ​Stylish open plan living.
  • ​High end kitchen appliances.
  • ​High quality cupboards in all bedrooms and kitchen.
  • ​Guarded security and parking.
  • ​Centralised water heating system.
  • ​Prepaid electricity.
Click image to enlarge

Financial Analysis

This investment holds strong appeal for property investors looking for cash flow positive buy-to-let investment opportunities near Cape Town. The investor immediately unlocks equity of R55,000 and has an additional R82,000 equity available at the end of year 1 to gear towards his next property.

 Cash Flow Forecast

 Cash Flow Forecast

Disclaimer
The information on this website are provided in good faith and while every care has been taken in preparing the accuracy of the information, Empire Wealth makes no representations and gives no warranties of whatever nature in respect of the information, including but not limited to the accuracy or completeness of any information, facts and/or opinions. The User is encouraged to perform his own research and assumes all responsibility and risk for the use of the information and other material provided.

When is this Property Cash Flow Positive?

Deposit Needed at List Price

R0

This property is cash flow positive without paying a deposit.

Rental Income Needed at List Price

R7,150/mo

This property is cash flow positive at the current rental income of R7,500/mo

Purchase Price at 100% home loan

R865,000

This property is cash flow positive at the purchase price of R825,000 

Contact Us

Want more information on this investment opportunity? Complete the contact form below and one of our property investment strategists will call you back.

Cape Town Head Office

  4th Floor, 4 Bridal Close, Tyger Falls, Bellville, Cape Town
  +27 (021) 126 0250
  info@empirewealth.co.za
Copyright 2020. Empire Wealth Properties (Pty) Ltd. All Rights Reserved.