Rosemont City Place units are now up for sale with a starting price of just over $1 million.
Nikki Thomas, real estate assistant at Coldwell Banker Bermuda Realty, said the properties have been on the open market since the beginning of last month and already have a unit in contract.
The two- and three-bedroom homes are located on Rosemont Avenue, next to the Ascots restaurant.
The properties have previously been rented for around $6,000 to $9,000 a month.
Ms Thomas said owner WhiteCross Development Ltd believes it’s the right time to sell.
“We have the first apartment in contract and now the ball has started to roll,” Ms Thomas said. “All apartments are on the market and ready to be sold. Right now we currently have about a dozen left.”
Ms Thomas argued that it was an attractive investment, as the location is within walking distance of the city.
“It is so close to the city, you can walk to work if you choose, but you don’t feel like you’re directly in the city. The area is green, you hear the birds, so you don’t feel like you’re in a city-centre residence.”
Another benefit of Rosemont City Place is the parking lot. “We have the underground parking, there’s not a lot of places that give that option,” Ms Thomas said.
“The first four residences are being sold with free parking space, but any units sold after that can pay for the underground parking with an elevator that takes you directly to your apartment floor, which costs $30,000.
“This is a great opportunity for people from the rental side of things. The buyers we see that come through here are mostly people who want to downsize from a larger home in a few years, which will give them a great return on investment.”
The apartments are available to locals, PRC holders and international buyers. The two-bedroom apartments start at $1.075 million and the three-bedroom units start at $1.45 million.
Other amenities beside the underground parking, are a fitness centre, access to the private pool and sundeck, extra storage space, elevator access and secure access with security card system.
There is a quarterly maintenance fee for the upkeep of the elevators, common space, pool, gym and parking.
Each residence has a large private balcony, is furnished with major appliances, including a microwave, refrigerator and dishwasher. They are also centrally air-conditioned and heated.