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 Mihaja Apartment, - Good place for investment?

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4Rings
post May 8 2008, 06:09 PM

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Joined: Mar 2008
From: Ingolstadt
QUOTE(...PS... @ May 5 2008, 11:50 PM)
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...  icon_question.gif
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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.
4Rings
post May 9 2008, 06:15 AM

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Senior Member
1,783 posts

Joined: Mar 2008
From: Ingolstadt
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?
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