The Berth by the Cove is selling a three-bedroom apartment for $2.6 million
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A three-bedroom home located at the Berth by the Cove, a condominium within The Sentosa Cove enclave, will be put up for sale on the 24th of May. The property is an owner’s sale with a price guide at $2.6 million, according to Edmund Tie’s director of auction as well as sale manager Joy Tan, who is managing the sale.
The property is 1,668 square feet. This is a reference price that is $1,559 per square foot. It is currently rented out and the owner is looking for a buyer to purchase the property under the current tenancy that will expire on March 20, 2025. “This means that the property is an ideal investment to investors who are looking for instant rent returns,” says Tan. Based on the price of the property’s guide it will give investors a yield of more than 3%.
The property is located on the second floor, and comes with an entrance with a lift and a balcony facing an un-treedy waterway. The apartment has dry and wet kitchens as well as an indoor shelter for families, and the master bedroom is equipped with an additional balcony.
The Berth by the Cove is a 200-unit condominium development located along Ocean Drive that was completed in 2006 by Ho Bee Land. This was the very first condo that was privately owned to be built within Sentosa Cove. It was designed as a home that offers the luxury of a resort, with a waterfront this development set an important milestone for luxury condos that offered residents access to amenities like private yacht berths.
The 99-year condo is comprised of 15 low-rise blocks with six stories each. The typical units in the condo consist of two to four bedders with sizes ranging from 1,012 sq feet to 2,271 sq feet. There are penthouses that range from 2,939 sq ft to 6,028 sq feet.
The development is close to F&B stores and retail options located at Quayside Isle as well as One Degree 15 Marina Sentosa Cove. Other facilities for leisure and recreation close by include Resorts World Sentosa Tanjong Golf Course, and malls such as VivoCity or Harbourfront Centre. In addition, the CBD is just a 10 minute drive from the CBD.
Most recently, the unit that changed over in The Berth by the Cove was on March 1st when a 1,173 square foot unit was sold for $1.9 million ($1,615 per sq ft). Based on caveats filed in the transaction, the unit was bought in July 2013 for $1.82 million ($1,550 per square foot) and that the seller earned a profit of $77,000 from the deal. Prior to that, three units were sold in December. The units, ranging 1 – 1,844 square feet, were purchased at a price of the range of $2.45 millions and $3.15 million in absolute terms or between $1,468 and $1.672 using a psf-based basis.