Hout Bay - Investment
Asking price : 2.7 million ZAR.
Hout Bay, 146m2 penthouse apartment within 3 minute’s walk to the beach. Three bedrooms, two bathrooms and large balcony (24m2). Two underground, secure parking bays. Excellent quality of finish.
The brief for this client was to find an apartment that would have strong rental appeal and offer the convenience of being able to access local amenities on foot, as the client plans to use the apartment in the future for part of his retirement.
This new apartment block offers fantastic convenience to local restaurants, café’s, hotels and shops as well as Hout Bay beach and Chapman’s Peak Drive. Despite offering a shortlist of houses and apartments, this option outshone the others with the double volume ceilings, generous sized rooms, excellent finish and large balcony. From a rental perspective, the location and space meant it would have very broad appeal.
The negotiated price of 2.3 million ZAR was in fact the same as the original owner paid on purchase, two years earlier, giving our client almost 10% off an already, very competitive price point. Space now manage the property for the owner and assist with ensuring it is consistently rented out. .