1 Bedroom Apartment For Sale in Cape Town

Property description

This is a complete, income-producing investment in one of Cape Town's most dependable rental nodes - not a project, not a vacant unit waiting for a tenant.

Sold furnished with a tenant already in occupation at R17 000 per month. Gross yield of +-10.7%, comfortably ahead of what small Observatory units typically return. The existing lease transfers with the property, so you step in as landlord from date of transfer - no vacancy, no letting fee, no furnishing budget.

THE APARTMENT
• Open-plan living, dining and kitchen with a breakfast peninsula
• Integrated oven, ceramic hob, extractor and plumbed washer-dryer
• Bedroom with built-in cupboards and a dedicated work desk
• Fully tiled bathroom with walk-in shower
• Air-conditioning
• Dedicated inverter with battery backup - your tenant stays powered and online through municipal outages
• Prepaid electricity and fibre-ready connectivity
• Allocated parking bay on Level 2
• Secure Visitors Parking

THE BUILDING
The Paragon is a secure, professionally managed 143-unit development on the corner of Main and Bowden Roads.
• 24-hour manned security and controlled access
• Reception and concierge desk in the lobby
• Rooftop pool and braai deck with city and mountain views
• Fully equipped gym
• Lift access to all floors, communal laundry, secure parking

FURNISHED;
Defy fridge/freezer, LG washer-dryer, Samsung microwave, air fryer, kettle, toaster and sandwich press, full cookware set and crockery, LG television and stand, dining table and chairs, bar stools, coffee table, desk, electronic safe and router. A full inventory is available on request.

RENTAL ATTRACTION:
You are directly opposite the UCT medical precinct. Netcare UCT Private Academic Hospital, Groote Schuur Hospital and the UCT Faculty of Health Sciences are all within a few hundred metres, with upper campus a short shuttle ride away. Observatory station, St Peter's Square Shopping Centre, Norwood Mall and the cafés, restaurants and vintage shops of Lower Main Road are on the doorstep, and the M3, M5 and N2 put the CBD, Kirstenbosch and the airport within easy reach.

That geography is the whole investment case. Registrars, medical staff, postgraduate students and remote-working professionals need to be within walking distance of those hospitals, which is why Observatory holds some of the lowest residential vacancy rates in Cape Town.

*Special levy of R805.83 in place from August to October 26.

VIEWING
Strictly by appointment and arranged around the tenant.

Bailey.
-Your preferred real estate broker.