This charming historic building has been thoughtfully transformed into four spacious two-bedroom apartments, perfectly positioned just a stone’s throw from the bustling town centre of Paarl’s business district. Residents benefit from the unbeatable convenience of having shops, services, and transport options within easy walking distance, making daily life exceptionally comfortable. The building itself is in decent condition, supported by good security measures, though it would be wise to allocate a budget for general upkeep and cosmetic improvements to maintain and enhance its appeal.
From an investment perspective, this property offers exceptional long-term value, with expected returns that significantly outpace inflation. The risk is well managed thanks to four separate lease agreements with staggered renewal dates, minimizing the chance of simultaneous vacancy across all units. This diversification also attracts a variety of tenant profiles, from small families to young professionals, owing to the well-sized apartments and very competitive pricing for the area. Moreover, the versatility of the property includes the option to convert one of the units into an air bed and breakfast, capitalizing on Paarl’s growing short-term rental market. Its proximity to the town’s main schools further adds to its appeal for families seeking quality accommodation close to educational facilities. Overall, this property represents a smart and stable investment opportunity, combining historic charm with practical modern living in a prime location.