Apartment for sale at 423 Main Rd, The Paragon
Enjoy hassle-free city living opposite UCT medical precinct in Observatory; income-producing, sold furnished with tenant in place, one-bed one-bath with inverter battery backup and parking.
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
THE BUILDING
The Paragon is a secure, professionally managed 143-unit development on the corner of Main and Bowden Roads.
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.
VIEWING
Strictly by appointment and arranged around the tenant.
Bailey.
-Your preferred real estate broker.
Listed for sale at R1,900,000
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.
