[imagesource: Sotheby’s]

It’s a buyers market out there at the moment due to the pandemic, which is bad news for homeowners and great news for anyone looking to own property.

For the aspiring landlord, there’s one bit of prime real estate that could prove particularly interesting.

Sotheby’s is running the sale on an entire apartment block located in The Address on Adderley in the Cape Town CBD.

The block boasts five luxury apartments with a combined total of 15 bedrooms and fifteen bathrooms. More specifically –  two lofted apartments and three single-storey, double volume units.

Let’s get the price tag out of the way, first – we’re talking R50 million.

The apartments are high-end and situated in the same building as Africa Bank.

Africa Bank presents another financial opportunity, as you’d have the option of extending its lease for years to come.

The building at present is seven storeys high – more from the listing:

Combining Inspiration from Cape Town’s rich Architectural Heritage with a modern point of view, The Address on Adderley offers the best of all worlds in a landmark neighbourhood a short walk to the High Court and Parliament.

Architect Jenny Mills conveys a feeling of refined luxury infused with the heritage of the City Centre elevating valet, serviced living to new heights in Cape Town.

The distinguished 20th Century building, originally home to The Pollock music shoppe has been elegantly remodelled and updated to house five exceptional City Apartments.

The kitchens were all imported from Italy, and smart control panels manage security cameras, while also connecting your tenant to the front desk.

The staff in the building park residents’ cars and collect them when they’re needed.

This is the first valet serviced apartment complex in Cape Town.

Again, a cool R50 million price tag.

You can take a closer look here.

Hey, if you’ve got it, there are worse investments.

[source:sothebys]