The most urban of the Calas Galadhon sims is the Island of Armenelos, where sparkling white dwellings evocative of the Greek island of Santorini are perched on high rocks that thrust up out of the surrounding blue sea. The apartments, as far as I can tell, aren't for rent—they're furnished and one can wander in, but they're just part of the scenery. Some additional small dwellings can be found on the northwest corner of the island, not easily visible from the main southeastern facing side, and an old dock cradles a fishing vessel a little further to the north. You can find the Church of Santorini on the northernmost corner.
A club, the Dolphin Cafe (pictured just above), stands a short walk from the main area and is a frequent venue for live music performances—the schedule is prominently displayed near the sim's landing point. On the southeastern walkway that runs along the shore, you can pick up some free scuba diving equipment, and you'll find it handy if you want to explore the underwater sights that await.