Apartment for sale
Tenanted Obs 1 Bedroom Investment
Relaxed urban living in Observatory, steps from Lower Main Road and UCT — one-bedroom, one-bath apartment opening onto a huge timber terrace with sweeping mountain and city views and parking.
Tenanted Obs Investment - ~10.7% Yield, Huge Private Terrace & Mountain Views
A standout buy-and-hold in Madison Place, one of Observatory's best-run modern blocks - and a rare one-bedroom that opens onto a large private timber terrace with sweeping mountain and city views.
Sold fully furnished and equipped, with a quality tenant already in place at R15,000/month - around a 10% gross yield from transfer, and comparable units in the building let for up to R16,000. Observatory is Cape Town's strongest rental suburb, anchored by UCT and the Groote Schuur medical campus minutes away; demand from medical staff, postgraduates and young professionals keeps quality one-beds let fast and vacancy low.
Inside, an open-plan living and kitchen area flows out to the terrace through sliding doors. The kitchen is fully fitted with oven, ceramic hob, extractor, dishwasher, fridge/freezer, washer-dryer and microwave. The bedroom has built-in wardrobes and a wall safe, and the bathroom features a walk-in shower. An exclusive-use undercover parking bay is included and for guests the building has additional underground visitors parking.
Madison Place offers 24-hour biometric security, a residents' gym, fibre throughout and lift access, under a proactive body corporate with healthy cash reserves. Walk to Lower Main Road's cafés and restaurants, the Jammie shuttle and the hospital precinct, with quick M3 and N2 access to the City Bowl and Southern Suburbs.
Transparent monthly costs, straight from the body corporate:
A full POPIA-compliant information pack - levy statement, conduct rules and latest financials - is available to buyers on request.
+-Gross yield3 10,7% now - 11,4% at market rent
+-All-in net yield3 7,9% now - 8,7% at market rent
*Pet Friendly - subject to body corp approval
Contact today to arrange a viewing.
Bailey Real Estate.
Additional features
Ownership costs
Property history
Listed for sale at R1,985,000
Price reduced by 10.2% to R1,782,000
Price reduced by 5.7% to R1,680,000
