i came across the Miharja Apartment, the one beside the Maluri LRT Station, and wondering whether it is a good place for property investment?

The good part:
- Low price (around RM 100K++)
- Stategic place (near Maluri Jusco, PGRM, not far from KL Center..)
- Easy access to public transportation
- Crowded area
- Rental around RM 650 - 700

Bad one:
- Traffic jam area if taking own transportation
- enviroment might not be very pleasant
- quite an old building, lack of maintenance
- lift might breakdown any time

I'm thinking whether this place is suitable for property investment? Went to see 1 property, high floor, renovated, price RM 100K+. Do you all think it is worth for investment ha?

In my opinion it should be very easy to rent out the property, coz i looked around the area, not many houses for rental. Mostly are room to let only, and <5 properties for sales. I tried to call to most of the room to let notices, 4 out of 5 already rented out, yet their notice seems like just been posted a few days back... But judging by long term, will the lift breakdown and nobody want to repair it? will this ever happen?

Anyone of you can give some opinions ha? or any better suggestion nearby good for property investment? I'm trying to start a small investment here...

Haha Miharja kaki here Perhaps you could get more feedbacks if you go to Miharja thread at Kopitiam. Click on my sig

About investment, yeap, it's ok if you're not staying there Erm, other than that, better talk in kopitiam lor

thanks mate...
others got any comment regarding this property for investment?

Only got one ultimate comment which is, if you wanna invest and get return on rental, this is the place. If you wanna stay, this is not the place

Based on own survey :
Condo going for around 120k-140k depending on condition.
Apartment going for 89k-110k depending on condition also.

Pros :
1. near LRT
2. near bus stop
3. you won't starve here
4. Jusco and Carrefour quite near
5. pasar malam every Monday

Cons :
1. already 30 years old, needs big renovation
2. lift always rosak, management owes the lift service company money so that won't fix the lift so fast
3. BIG rubbish dump and not cleared often
4. noisy at night due to ball game at the restaurants (GOALLLL!!)

i noticed about the rubbish store... full load...
any problem with the inside ha? any water leaking? coz sometime it depends on the developer also... and any termit reported?

i think termites and water-leakage are more to individual units. if the tenant/owner maintains their units well, then there won't be such problems.

the last time i went to check out one, the entire wall looks to be having leakage problem, but i think it was bad because the owner didn't try to fix it early.

generally i think miharja's a good place for investment, good ROI, and easily rented out. i've rarely seen ads put out regarding rentals, and not a lot of investors are selling their units. i'm constantly looking at available units too, but am still holding back due to financial reasons.

share with you what i found... RM 100+, high floor... the house got renovated a bit: 100% tiles, the toilet door has been relocated to another side, that means you have to go thru the kitchen, which i think looks better...

my main concern is the lift problem... ROI is good, but it is not for 1-5 years, i'm looking it at a longer period, 5-15 years... who knows what will happen within the coming 5-15 years. Management might go bankrupt and no lift for all... that will mean no value for property over 5th floor... no need to mention to the floor over 10th lor...

anyone got any idea about the management there ha? who're running them? are they alright?

any you found any good unit you wanna share?

i don't mind sharing the opportunity that i've lost...

i was offered a unit on the 1st floor at 108k, already tenanted at 700/month. pretty good ROI if you ask me.

but i didn't take the offer because apparently the current tenant has some slight problem paying the rent punctually, and the entire wall has, like i said, water-leakage. if i was to purchase it, there'll be heck lot of renovation to do because i don't intend to keep the existing tenant, and no new tenants would want a unit with that kind of condition. while i think the unit can fetch a far better rental yield, i didn't want to take the risk especially in the renovations dept, the unit was is very poor condition.

pro as it's located on 1st floor, right beside the stairs, so there is no worries about the lift thing.

properties in miharja is only good for investments if you plan to rent out the unit for a very long term, because you clearly can't sell for a better price than you buy. leasehold btw, with 80 years left the max.

look carefully and wait for chances, you'll be able to spot some ads once in a while.

Check out the S&P. Should be around 70 years left.

i dont really care about that long la... if the maintenance team do their work propery, 20-30 years enough la...

Maintenance team do crappy work

well, with that kind of maintenance fee, i don't think you're really expecting a lot right?

I was doing business at Miharja for more than 10 years. That apartment should not be called apartment, it is more like flat.
The place is very run down. Look at those shophouses, rubbish is everywhere. The build quality also sucks more sand than cement.
Many years ago there were Taylor's college and Pertama college. Since the colleges were gone, the rental rate had gone down or being dormant for years.

i never know the was Taylor and Pertama at Miharja...
as what i see now, then rental is still alright ma... can generate good ROI... as i said, the only thing i'm worry about is the lift lor...

So 4 Rings, since you're been living there for more than 10 years, believe you heard a lot about the place right? Anything you think i should know here? And what's your opinion on the future of this property here?

I was running a gym there for more than a decade. Most of my clients stayed around there. Most of them had moved out already, they don't like the place. The place are inhabited by drug lords and prostitutes. And also favourite place for people to bungee jump without the rope attached. Drainage is also very bad. It had happened thrice if I am not mistaken, the place was flooded during heavy rain. Many cars were submerged in the flood. Some were as new as a few days old.

The whole project over there was built by MBF. The quality was very bad. Take a look at Kondo Miharja. They had pasted the crack on the walls many times. And the staircase of the shops were made of more sand and less concrete. There were broken pieces on the stairs from ground floor all the way up to 2nd floor.

The rental at Kondo Miharja at one time was more than $1000 per month.
It has gone down to $700-$800. There are so many nice apartments around where you could invest. Why choose a lousy place like Miharja, filthy and dirty?

well, i wouldn't say miharja is a lousy place to invest.

nice apartments don't come as cheap as miharja, and they aren't a lot of better locations compared to this area. there are constantly people looking for units to rent in miharja, and i would say it's a decent investment with good ROI.

not everyone can just go and 'buy' a nice property which costs an arm and a leg (literally), and expect to get a respectable ROI. or in a simpler term, some people can't afford to risk with properties at a higher price. i'd say miharja is affordable for investors who don't have a large capital to start with. even if you couldn't find a tenant, i think most investors would still be able to pay their monthly installment.

i live there for two year already, maintainance really shitty but the place is very strategic place near shopping mall and LRT, also alot of nice food around so i stick around maybe move out after buying my own place.

totally agree! I want to start a small investment with limited capital... that's why i'm looking for something which is within my capability... for the price, even if i cannot find a tenant for 1-3 months, i should be a able to afford to pay it...

As for the location, i believe this place is situated at very good spot: beside LRT station, close to the bus stop, food around the area, Jusco opposite the road (great for ppl working there)... And i personally found it hard to find a whole apartment to rent. And even if there are many room to let, most of them get rented out very quickly. This is a fact as i've done a little experiment calling every notice beside the lift...

since the unit i looked was at the high level, my main (and only) concern is the lift problem... there any many people complaining about the lift status where it might break down averagely 2-4 times in a single month. and it may takes 1-3 days for them to fix it... sooner or later the tenant staying in the high floor would want to find another place at the lower level...

after taking a lot of consideration, i've decided not to proceed with the investment, because there is still some possibility that the lift will break down totally one day. Take the Miharja Flat for example. The lift there was break down for more than a year! Only recently they got it fixed...

So unless i'm able to find a good unit no the lower level, or else i think i will have to look for other place lor...



exactly same as what i thought the tenant there felt...

The drainage system had been upgraded, no more flood lor... The apt there is shitty lah, but it's due to convenience which keeps the tenants here.

Property here is cheap. That's why it's filthy It does have a good ROI.

Betul, hahahaha... wei since you live there why not join the Miharja / Maluri thread (in my sig) and come out yamcha? Got many ppl live there

Me live high level

Still looking for lower floor. Actually i'm also looking at other place, such as Wangsa Maju... any comment on this place?

Lower floor betul betul bising wan wor I cannot tahan even when yam cha downstairs.

Wangsa Maju for investment? Have a unit there rented out last year.

http://forum.lowyat.net/index.php?showtopi...&#entry11201613

Good investment

what floor is your unit in? will it be difficult to rent out if the floor is higher, say 5th floor leh?