Friday, 29 July 2016

Becoming a slum lord?

I found a small commercial unit with an asking price of below 100k.

Possibly something to buy in cash, no hassle with loans.

However, it is in a fairly low cost area so capital appreciation might be a challenge?

But the returns are decent at 7% based on the current rental being paid by the tenant against the asking price of the property. Of course if the rental was raised and the price is bargained down, the return increases.

Going to view the place soon, hope it is a good deal.

Lexa Residence

The location for this development by the Beverly Group seems kind of good, at the main crossroads of Jln Setiawangsa, Jln 34/26 and Jln Mohd Yatim Yahaya.

It is diagonally across Riana Green East and opposite Infinity 3.

Freehold. Yeah!

There was a soft launch and the showhouse looks like it's almost ready.

Would be something I'm interested in as an investment.

  1. It is fairly low density at 428 units.
  2. Close enough to walk to the Sri Rampai LRT station - although if the developer is smart, they should offer a shuttle service to the station during rush hour, or be innovative - hire some mat rempits to make some extra cash in the morning ferrying people to the station LOL
  3. The crossroad is being upgraded and expanded right now to alleviate the heavy traffic jam at the traffic lights, so should be better flow in future (haha who am I kidding, it will only be smooth for a while before more and more people move into Seasons Garden, Irama, Infinity and the new block at Riana thus causing the jam.. AGAIN)
Anyway, probably good for rental and possibly a downsize option for me when I'm older and don't need so much space.

Ah well.. waiting for the launch of the showroom. Should be nice!

Friday, 17 June 2016

Residensi Setiawangsa Kaleidoscope

Upcoming launch of a project at the border of KL and Selangor! LOL

The earthworks have been ongoing for a while and the show house can be seen to be nearly completed, that's why the siding now has the name of the project along with the number to call for registration.

The information available is that the developer is Kerjaya Prospek Group - they have completed a few projects so far: 222 Residency, 288 Residency, The Shore and Veridian Cheras Idaman.

Based on the location of this new project, I think there are more pros than cons - so, tl:dr version is I think it's good.

Let's break it down:
Location - the corner of Jalan 6/27A and Jalan 1/56, it is currently in a very quiet and green part of Setiawangsa. Here are the maps:

As you can see from the Earth version of the map, the trapezoid is the earthworks for Setiawangsa Residency.

Fengshui-wise, the position is good: It has a mountain behind (Bukit Dinding) signifying strong support and the Klang River is in front of it (well, not literally in front). So it sits very well with support from the back and resources flowing in front.

The shape of the land is not 100% ideal, not being a square or a rectangle. However, this trapezoid shape is fortunate because the front is wider than the back, hence able to 'receive' more Chi energy. If it was reversed, then that's bad.

Other advantages of the location:

  1.  Quiet location, all residential around the area
  2.  Wide roads surrounding it
  3.  Easy access to the DUKE, MRR2, AKLEH and if they ever connect Jln 1/56 to Jln AU5 (and widen that road!), it will even be linked to the SUKE if that project takes off
  4.  Jln 1/56 is directly linked to the DUKE, the entrance/exit of the highway is a roundabout which is less than 1km from exit 3308 (so auspicious liao the numberrr! LOL)
  5.  Amenities within a 2-3km radius: 
    • Fairview International school
    • the new Ministry of Sports complex with Olympic sized pool, race track and others (open to the public at minimal fees)
    • 2 AEONs (Setiawangsa & Wangsa Maju the old Carrefoure), Wangsa Walk Mall that has Cold Storage
    • 2 cinemas in the aforementioned malls. banks, shops and so on.

The disadvantages of this location:

  1.  Far from public transport; a considerable distance to both Sri Rampai or Setiawangsa LRT
  2.  There is a bus route but I didn't see any nearby bus stops, am not sure if the LRT shuttle comes by .. because where this project is located, there are literally no houses immediately next to it.
  3. There are some illegal but well established stalls serving the low cost flats just off the roundabout which causes congestion morning and evening! Very annoying, really but one must take a deep breath and learn to live with it.
  4. Quiet and residential also means you have to drive out for anything - no shops or restaurants within walking distance - well, except for aforementioned illegal stalls! LOL

So let's wait for more details on the pricing, amenities within the project, design and financing packages.

Initial assessment based on location is that it will be an own-stay kind of place, I can't imagine this being very popular with renters although you *can* still rent it out for sure.

I would guess it will appeal to young couples or families who are the 2nd or 3rd generation of people who grew up in the AU/Keramat/Setiawangsa/Wangsa Maju area. 

To me, it is appealing from the aspect that it is in a quiet, secluded and green area - lots of fresh air and YET, still so connected by highways and close to KLCC. It is also within KL boundaries, although all you need to do is WALK across the road and you're in Selangor hahaha

I'm excited to see when the show house is done to have a good look :)