Apartment for sale
Live steps from Observatory cafés, station and UCT in a modern, low-maintenance apartment with rooftop pool and panoramic city–mountain views; one bedroom, two bathrooms and secure basement parking.
Positioned in the sought-after The Paragon development, this unfurnished 1-bedroom, 2-bathroom apartment offers a rare blend of secure modern living and proven income performance.
Property overview
Open-plan living, dining and kitchen with modern finishes and integrated appliances
Well-proportioned bedroom with built-in storage and natural light
Two bathrooms - a rare configuration in a one-bedroom and a proven driver of tenant appeal and premium rentals
Neutral, low-maintenance interiors suited to immediate rental activation
Secure basement parking bay included (Level 2)
Secure visitors parking
Building features
Rooftop swimming pool with panoramic city and mountain views
Covered braai and entertainment deck
Fully equipped communal gym and on-site laundry
24-hour security, controlled access, reception and lifts, with well-maintained common areas throughout
Location - Observatory rental hotspot
Ideally located on the corner of Main and Bowden Roads: walking distance to Observatory station, cafés, restaurants and retail, and minutes from UCT, Groote Schuur Hospital and the UCT Private Academic Hospital. Structural housing demand from students, medical staff, academics and young professionals makes Observatory one of Cape Town's most resilient rental markets, with consistently low vacancy.
Investment profile
Long-term letting is anchored by the verified figures below rather than estimates. The scheme's rules also permit short-term letting (registered at the security desk), so the apartment supports a genuine dual-income strategy - conventional long-term tenancy or a furnished short-stay asset near UCT and the City Bowl. Detailed short-let modelling and assumptions are available in the investor pack. Observatory has averaged roughly 6–9% per annum capital appreciation in recent years, underpinned by the same structural demand.
A furnished one-bedroom in this building was let in June 2026 at R17 000 per month. At R16 000 – R17 000, that translates to a gross yield of 10.7% – 11.3% and a net yield of ±8.6% – 9.3% after levies and rates. The recent special levy has been settled in full by the seller - the purchaser takes transfer clear of it.
Verified numbers, not projections.
Serious buyers can request the full investor pack: body corporate financials, levy and rates statements, and a yield brief showing exactly how these returns are built.
Contact us for the pack, a financial breakdown, or a private viewing.
Bailey. Real Estate - discreet, strategic property advisory in Cape Town.
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Listed for sale at R1,960,000
Price reduced by 8.2% to R1,800,000
Too few homes for a price verdict
Only 5 similar homes are listed in Observatory right now — too small a sample to fairly benchmark this asking price against.
How does this home’s price compare with similar properties?
Price comparison based on 5 similar-sized 1-bed homes.
Market depth
5 similar homes
6 listings in Observatory
Low inventory
Active in Observatory
MyProperty Insights are based on current active listings (excludes sold data) and may change. This is not a valuation or appraisal.
Observatory is a vibrant, bohemian neighborhood known for its eclectic mix of Victorian architecture, lively student culture, and a thriving community of artists and young professionals.
