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Sunday 31 May 2015

Green Park Condominium at Taman Yarl,Old Klang Road

My KL friend shared with me a kang tau "Green Park Condominium at Taman Yarl,Old Klang Road" below market value. Below is the information given:

It is a penthouse with 4400sqf + 1600 sqf balcony
Owner Asking RM1 m
The house is renovated to 17 rooms and rental collection is about RM8000 per month.
The maintenance fee is RM1000.








I did a quick survey:
Yield seem to be good.
In my opinion RM1 mil to get RM8000 monthly rental from 17 tenants/rooms looks like dealing with too many people.  Dealing with 17 people looks like not worth it, too much work need to be done. Also is it legal to do such partition?

Although the deal is positive cash flow, it is worth it to buy RM1 mil and manage 17 tenants to make RM1000 positive cash flow?  Is there any others better deal out there? For example : buy 2 condo worth RM500k each to make RM1000 positive cash flow.Let see the calculation below:

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