Anyone heard of the phase 2 of this condo (block c &d)?

around 1270 sqft 4 rooms 4 toilets. Indication price around 545k...

Official launching by early June.

Walking distance to IUKL, 3 mins driving distance to Uniten. Another booster is upcoming MRT line 3 will be located 500m from the condo.

Anyone familiar with this area? Appreciate your advice.

I think very good investment with the uniten lobbying mrt line 3 station here.

afterall tnb is crony.

Good size and design ( 4 rooms 4 bath ) for rental market. But how about the rental demand and rental rates ? What's the current rental per month for one room ?

Looks good, doesn't matter if the mrt3 is coming through.

This post has been edited by puchongite: May 17 2014, 07:53 PM

Just visited the sales gallery today. According to the agent, initially, there're 2 blocks (block C & D) for sales. But now, blocked D will be reserved for IUKL as 1st-year-student hostel coz its' original hostel will be demolished in near future and that piece of land will be used to build one 4-star-hotel and one service apartment. So, the only one block which is block C available for sales (120 units of normal 1270sft and 40 units of duplex). Price around 550k with possible 5-10% early bird disbursement. Price and discount will only be finalized during launching in June.
Booster would be
1. new IOI city mall
2. De Centrum mall (target completion by 2016)
3. mrt line 2 (uniten station by 2020)

Assume by 2018, rental goes up to 400 per student; one unit can accommodate 8 students;
Monthly rental = ~3200
Maintenance + sinking fund = ~300 (0.23 psf)
S&P price = 500k (assume 10% discount)

Hence, ROI = [(3200-300)*12 / 500,000] * 100 = ~7%
Cash flow = 3200 - 300 -2200 (installment) = 700

Looks like a sound investment eh? What do you guys think?

This post has been edited by peril123: May 18 2014, 04:08 PM

Not as easy as that. You agent right??

I am selling Polyethylene resin. not property. i am not an agent. haha.

If 400 is not realistic, conservative estimation should be around 300 per head right?

if so, roi = [(8*300) - 300] * 12 / 500,000 = 5%
cash flow = 8*300 - 300 - 2200 (installment) = -100 / month

would it make more sense?

Appreciate insight from others.

Thx for your advice.

Any comments/insight from others? Especially those who are familiar with this area. Would it be as rent-able as PV's condos in Setapak?

I think it might workable by 2018. As tis areas will be like mont kiara.

u can check 4 weeks ago the edage newspaper masterplan if u dont believe me.

i hope it happen. Good for my jadehill greenpark.

http://www.protasco.com.my/v2/index.php/he...l-the-edge.html

We are being very optimistic here...haha

Other than students from uniten, uikl & upm, any other potential tenants for this area?

MONT KIARA AT KL SOUTH

LIKE

what do you guys think about this design?




Attached thumbnail(s)

Looks like the layout indeed caters for rental.

Very small common area, all the available space have gone to the rooms and the toilets.

Wah good layout.

i just booked 1 unit today. RM5k booking fees. sample house will only be ready by 2nd week of june. But quite some units with good feng shui have been taken already.

According to the agent, iukl has ~4,000 students (50% foreigner), uniten has ~12,000 students (2000 are tnb trainees) and upm has 30,000 students (30% foreigner). Appreciate if anyone could verify these numbers.

What is the selling price?

How much you paid for it and your unit is low, mid or high floor ?

Which facing is the most popular ?

how much and is it residence block?

580k for 4 beds. Currently 3beds only rent out 1700pm semi furnished unit.