2 Bedroom Apartment For Sale in Wynberg Upper

Description

Viewings: On Saturday's. Contact me to make a booking. (Times to be confirmed with tenant - I will share the days and times here when I know) This light-filled 2-bedroom, 1-bathroom, 1-open parking bay apartment in sought-after Wynberg Upper offers exceptional convenience, generous proportions, and effortless access. Although positioned on the first floor, the unit can be entered directly from street level — no stairs required — making it ideal for all ages. The living and dining area enjoys a North-West facing window, bringing in warm afternoon sun. Beautiful parquet flooring runs throughout the living area and both bedrooms, adding warmth and character. The kitchen and bathroom are needing a refresh but are neatly finished with durable tiled flooring, ensuring easy maintenance in high‑use areas. Both bedrooms are comfortably sized with built-in cupboards, and a family bathroom including shower over bath, toilet, basin, and plumbed for a washing machine. The block does not have a lift, but has secure access at each entry point, and classic older architecture with a blend of face brick and plaster. A secure open parking bay is included. Perfectly located close to top schools, transport routes, shopping hubs, and the Wynberg village precinct. Key Features: - 86m² floor size - 2 bedrooms, 1.5 bathrooms - First-floor unit with ground-level access - North-West facing lounge - Parquet flooring in living area & bedrooms - Tiled kitchen and bathroom - Secure open parking - Lift in the block - Well-maintained older building with solid construction - Prime Wynberg Upper location Levy Breakdown: Reserve Levy 348.58 Normal Levy 1645.62 CSOS Levy - Normal Levy 22.91 Parking Bay - Normal Levy 413.91 Water Fixed Rate 83.01 Sewerage Fixed Rate 39.44 Investor Snapshot: Spacious 2-Bed Apartment – Weinberg Upper, R1,895,000 86 m², great layout—ideal for couples or small families. Solid southern-suburbs location with low vacancy. Rental Potential: R16,500–R19,500/month (conservative R18,000 target—achievable post-any refresh, based on current listings). Monthly Costs (2026/27): • Rates: R747 (0.006428 rate-in-the-rand after R500k free threshold). • Levy: R2,600 (your figure—fair for security/maintenance). Total non-bond: ~R3,350. Day-One Money-Maker: Rent Covers All—No Out-of-Pocket Monthly Tenant pays → bond interest + levy + rates = zero cash from you. Interest-Only Bond (Prime 10.25% – Investor Standard): • At R18,000 rent: Bond size: ~R1,715,000 Cash outlay (deposit): R180,000 (9.5% down) Monthly interest: ~R14,650 → rent pays it fully. • Push to R19,500 rent: Bond size: ~R1,891,000 Cash outlay: R4,000 (basically nothing—0.2%) Interest: ~R16,150 → still covered, instant profit. Upside: • Utilities: Tenant direct—no hit to you. • Yield: 10–11% gross (top-tier for Cape Town flats). • Even at R16,500 rent? Still only ~R355k deposit (18.7%) for zero flow—doable. Bottom Line: Drop 10% or less upfront, snag a tenant fast—no negative cash, pure passive income from month one. Banks green-light this easy—low-risk, high-demand area. Viewings ready—numbers stack up, let’s lock it in!