Investment opportunity: Very rentable apartment for sale in Malvin, Montevideo

Excellent opportunity for investment: Apartment with a lot of potential in Montevideo in an area with ongoing development. This apartment for sale is located in the Malvín neighborhood in Montevideo, one block from the city’s promenade, 4 from the yacht club and 5 from the Montevideo shopping center, the World Trade Center, as well as a free trade zone. The area is also full of trendiest nightclubs and restaurants in Montevideo.

This apartment (70 m²) has one bedroom, a living/dining room and a bathroom. Its northern orientation provides for optimal luminosity. The floors are laminated hardwood (allowing for durability and cost-efficiency for the owner). The bathroom was completely redone in 2001 (tiles, faucets and piping) The kitchen’s renovations will be finished shortly (counters, painting, sinks and sanitation).

• Water heater in both the bathroom and kitchen
• Built-in closets in hall and bedrooms
• Closed laundry room with aluminum framing
• New aluminum lining living room
• Radiant floor heating
• Two apartments per floor
• Doorman and watchman

This apartment can be found in an upscale part of town (median income: upper middle/high). Its location and status drive a high rental demand in the area. With no remaining lots for the construction of new buildings, this offer represents an excellent opportunity.

Given the increase in demand, in conjunction with the lack of supply, the value of this property will predictably rise. Several factors point to this conclusion: the lack of lots available for future projects in the vicinity of the promenade, the permanent increase in value of properties along the promenade, the growth of other commercial zones, ideal for restaurants and offices and the inauguration, this week, of the free trade zone, adjacent to the World Trade Center.