got 2 unit in CBJ bought many many years ago when they first launch. Next to MMU.
Not the best investment. Average. Rental definitely cover bank installment @90% loan. Its fully paid now with pure income rental. But maintenance fee is not cheap post GST. Never had any trouble renting it out so far. Longest also 2 - 3 months empty. But rental was basically the same or maybe dropped RM200-300 since 15 years ago.
Definitely oversupply. Majority foreigners/students. Capital appreciation maybe 2-3% a year only. If you put the same amount of money else where, could have gained a lot more.

Definitely a different story if buy for own stay. IMHO for own stay it doesn't really matter where you buy as long as you are happy with what you've bought for whatever reason it is. Malaysia property investment is getting tougher and tougher. Rental yield has been dropping by the year. You probably used to hear ROI 9% was common. Now 4.5% also happy already. Besides, for the past decade, highrise buildings are mushrooming everywhere be it in the city center and outskirt. Competition trying to rent out the units. Back then people who bought any unit anywhere are sure to make money by flipping or rental income. Gone where the days. People gotta adapt to the change.

Haha funny how you say shinier properties nearby. But the shinier properties nearby you probably can rent for the same price but smaller unit. Or, the owner of the shinier unit will have to take a rental cut and fork out some money from his/her pocket. In that case the tenant will benefit. Some people don't mind a smaller unit but newer unit. All depends on who want what. Gotta compromise here and there.