2 Bedroom Apartment / flat for sale in Maitland

Details

Whether you're looking for your first home or a high-performing investment, this modern 2-bedroom apartment in Essex Court offers exceptional value, low monthly running costs and excellent long-term rental returns. Positioned on the 2nd floor of a secure, well-maintained development, this 44sqm apartment is approximately five years old and remains in excellent condition. Designed for convenient, low-maintenance living, it is perfectly suited to first-time buyers, young professionals and investors seeking strong rental returns. Property Features 2 bedrooms 1 Modern bathroom 44sqm apartment Located on the 2nd floor Excellent condition – simply move in or rent out Prepaid electricity Individual water meter – pay only for what you use Fibre-ready (subject to service provider) Innovative, Cost-Saving Building Features Essex Court has been thoughtfully designed to reduce monthly utility costs and maintenance through: Solar-powered central hot water system (no individual geysers in apartments) On-site water treatment plant Lower electricity consumption Reduced maintenance associated with conventional geysers These features help keep monthly ownership costs lower while appealing to environmentally conscious tenants. Secure Lock-Up-and-Go Lifestyle Residents enjoy peace of mind with: CCTV surveillance Electric fencing Motorised access gate Well-managed, secure complex Ideal lock-up-and-go living Exceptional Location Conveniently situated with easy access to major transport routes, shopping centres and public transport, Essex Court is perfectly positioned for everyday convenience. The development is located within close proximity to the rapidly expanding River Club/Amazon headquarters precinct, one of Cape Town's largest mixed-use commercial developments. As this precinct continues to grow, it is expected to attract thousands of employees and supporting businesses, increasing demand for quality rental accommodation in the surrounding areas. Combined with the nearby police station and excellent accessibility, this location offers both convenience and long-term investment appeal. Essex Court has proven itself to be a highly sought-after development, with all apartments selling out shortly after launch. Current Rental Performance Current rental income: R8,100 per month (excluding water and electricity) Comparable rentals currently being achieved: R10,000 – R11,500 per month (excluding water and electricity) Estimated Monthly Costs Levies: Approximately R1,300 (including reserve fund contribution) Rates: Approximately R250 Estimated Gross Rental Yield Current Rental (R8,100/month) Annual rental income: R97,200 Gross yield: Approximately 9.8% Market Rental (R10,000/month) Annual rental income: R120,000 Gross yield: Approximately 12.1% Upper Market Rental (R11,500/month) Annual rental income: R138,000 Gross yield: Approximately 13.9% These are exceptionally attractive returns for investors seeking a low-maintenance asset with strong rental demand. Estimated Bond Repayment At a purchase price of R995,000, assuming a 100% bond over 20 years at an interest rate of approximately 10.75%, the estimated monthly bond repayment is: Approximately R10,100 per month. With rentals in the R10,000–R11,500 range currently being achieved for similar units, investors have the opportunity to own a property where rental income can cover a significant portion—or potentially all—of the monthly bond repayment, before accounting for levies, rates and other ownership costs. Why You'll Love It Excellent value under R1 million Modern apartment in excellent condition Strong rental demand Attractive gross rental yields Low monthly utility costs Sustainable building features Secure lock-up-and-go lifestyle Close to the rapidly growing Amazon/River Club precinct Ideal for first-time buyers and investors Exclusive Sole Mandate with Eazi Real Estate, where sellers save on commission, making homes more affordable for buyers. This is a rare opportunity to secure a modern, low-maintenance apartment in a sought-after development that combines affordability, convenience and impressive investment potential. Whether you're buying your first property or expanding your portfolio, Essex Court represents exceptional value in one of Cape Town's growing residential nodes. Contact Brynne to arrange a viewing

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