2-Bedroom Apartment for Sale, Palermo
$139,000
- 3Bedrooms
- 1Bathrooms
- 527 sq ftLiving area
About this home
2-Bedroom Apartment for Sale, Ideal for Investors, in Palermo, Montevideo. ATTENTION INVESTORS! FOR SALE WITH A RENTAL INCOME OF $27,500, TWO-YEAR LEASE STARTING NOVEMBER 15, 2025, GUARANTEED BY PORTO Edimboro Magellan Building. Very central location on Magallanes Street between Canelones and Maldonado. 5th floor. Neighborhood with good amenities and transportation. The unit includes a 1m² storage unit. Living/dining room with open kitchen and terrace. 2 bedrooms. Kitchen-dining area with breakfast bar, base cabinets, and countertop. Washing machine hookup. Full bathroom. The building has a communal barbecue area with a grill and a sun deck. Common expenses vary; the $6,200 includes $677 for the reserve fund. Approximate annual property tax: $15,000 Approximate annual primary property tax: $5,700 Bimonthly residential taxes: $1,500. Real estate commission: 3% plus VAT AAP7125218 - Abate Propiedades - We manage your rental guarantee. We are insurance brokers for SURA, PORTO, SBI, SANCOR, ZURICH SANTANDER, and MAPFRE .
Buying in Uruguay as a foreigner
Yes, foreigners can buy property in Uruguay.
A purchase is normally formalized through a public deed, notarial involvement and registration with the Property Registry.
- Near coasts and borders
- Uruguay does not apply a nationwide restricted zone for foreign buyers equivalent to Mexico's coastal zone or border strips in other countries. This field is retained only to preserve the common schema.
- Residency
- Tax residency available for property investment of ~$380,000 USD (plus 60 days presence). Path to citizenship is clear.
- Taxes and closing costs
- They depend on the state, the municipality and the property itself, so there is no single national figure. Ask the agent or our Concierge for an estimate on this home.
- Financing
- Financing for foreign buyers depends on the lender, residency, income, financial history, currency, down payment and property type.
How buying works
Identification and funds
Prepare a valid passport or identification, powers of attorney where applicable and source-of-funds documentation.
Title due diligence
The notary reviews ownership, cadastral parcel, registry history, liens, debts, plans and the property's legal status.
Reservation or purchase agreement
Define price, currency, deposit, conditions, timelines and allocation of costs.
Deed and registration
Execute the public deed, pay applicable taxes and fees and register the document with the corresponding Property Registry.
This information is general and educational. Taxes, costs, documentation requirements and transaction-specific conditions should be verified with a notary, attorney, accountant, bank or competent authority. Research last reviewed July 2026.
Amenities
Outdoor & Recreation
- Terrace
Lifestyle
- Pet Friendly
Nearby Essentials
Explore hospitals, schools, coworking spaces, and travel times in the neighborhood.
$139,000
