CASE STUDIES - UPPER SEA POINT - INVESTMENT HOME
Asking price : 4.5 million ZAR.
Penthouse apartment of 170m2 with a private sun terrace of 150m2, high up in Sea Point, a five minute drive to the CBD. Communal pool and secure underground parking available.
Our client was keen to find a strong investment property, and advised Space that he would not be able to view it himself, thus entrusting us to find him the ideal property at the right price. Sea view and plenty of space were crucial parts of the brief. Through contacts we heard about a distressed seller who needed to sell his penthouse urgently. This two bedroom apartment is ideal rental material with a large balcony and fantastic views. It is finished to a high standard and came brand new as the previous owner had actually never used it.
The client loved the size and position of the apartment and we secured a quick deal, netting a final price of 4.05 million ZAR, a mere 50,000 rands above the original price of two years earlier. This property has been rented out extensively covering all costs and giving a rental yield as well as capital appreciation.