HAMILTON (NEW PROJECT @ WANGSA MAJU) by ASET KAYAMAS

LAUNCHING SOON ::: HAMILTON (NEW PROJECT @ WANGSA MAJU) by ASET KAYAMAS
INDICATIVE PRICE ~RM550K FOR 1xxx sf (3 bedrooms 2 bathrooms)

300M TO SRI RAMPAI LRT
200M TO WANGSA WALK MALL

(Strictly for serious buyer that can borrow 5xxk loan, as there is only limited 435 units available)

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Everyday, we received email from readers enquiry about positive cashflow properties.
In current market situation, there are still positive cashflow properties available in Klang Valley, Iskandar Johor and Penang.

Having said that, it is not easy to find the properties with following criteria :-
1. Generate positive cashflow.
2. Equipped with solid unique selling proposition (USP) like LRT/MRT/BRT, shopping malls or grade A office towers within walking distance.

One of it which we found recently is Hamilton (new project @ Wangsa Maju)

JUST TO SHARE, BELOW ARE OUR SITE VISIT AND DUE DILIGENCE DONE AT SURROUNDING CONDO ON 02/10/2016 @ WANGSA MAJU

1. Desa Putra 2006
RM750k @ 1250sf; rental RM3000
Comment: 10 years old condo, well maintenance; but higher entry price point at RM750k.

2. Seri Riana Residence 2016
RM800k @ 1382sf; rental RM3200
Comment: new condo, nice facade; but higher entry price point at RM800k; possible negative cashflow on rental vs monthly installment.

3. Riana Green East 2012
RM600k @ 1087sf; rental 2800
Comment: Price point around RM600k, but further away to LRT and mall; possible positive cashflow on rental vs monthly installment.

4. Wangsa 9 Residence 2019
RM855k @ 1033sf (2 bedrooms)
Comment: Under construction, highest entry price point among all 5 condo; possible negative cashflow on rental vs monthly installment.

5. NEW PROJECT @ WANGSA MAJU (BY ASET KAYAMAS)
Price : from RM5xxk (not confirmed)
Size : 1xxxsf (3 bedrooms unit) (not confirmed)
Unique Selling Preposition (USP) :-
1. LRT Sri Rampai (15 mins / 6 stations to reach KLCC)
2. Wangsa Walk Mall (Celebrity Fitness, Cold Storage, TGI Friday, TGV cinema, FOS, Wangsa Bowl and Popular)
Comment :
1. New project under HDA (very important)
2. Lowest price point (below RM600k) among all 5 condo
3. Can get positive cashflow on rental vs installment.
4. Full covered walkway to LRT Sri Rampai (300m) and Wangsa Walk Mall (200m)

CONCLUSION :-
Among all the condo within 500m radius distance, this new project @ Wangsa Maju appears to be GREAT buy for both own stay and investment purpose.

If you are keen to buy this new project :
1. New project @ RM5xxk in KL
2. Positive cashflow
3. Easy to rent out
4. High capital appreciation potential
3. With LRT
4. With shopping mall

(Strictly for serious buyer that can borrow 5xxk loan, as there is only limited 435 units available)

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Muhammad

January 16, 2017 at 10:00 am - Reply

Salam, Azizi.
I agree with CPM’s view. In fact, I already secured a booking to buy one of the units at The Hamilton at the private launch event last weekend. At below RM550k psf for a premium view unit facing KLCC, this development cannot go wrong in my opinion. If you look at Wangsa9, Infinity3, LEXA, Quartz and Seri Riana.. they are all much more expansive at RM700+ psf and more importantly, much further from Sri Rampai LRT station.

The unit I bought is a 1,219 sqft facing KLCC… sales price after rebate/special early bird price was RM658,000 = RM539psf. For a premier development, you’d be hardpress to find anything around this price with the same connectivity to LRT/MRT and shopping mall as well as other amenities within a 6 stations of KLCC.

The smaller units were going for RM498 psf for 1,000sqft. Rugi bro tak beli. All 435 units were snapped up between in 5 hours during private launch event haritu. Unbelievable! SPA, Loan Agreement and Stamp Duty for both are all FREE with Developer’s panel Lawyer firm. Mana nak dapat deal macam ni, bro?

But I think above all, as an Investor… the reason I bought this property is because of the upsides on rental and capital appreciation upon completion. Say you take up 90% loan for 35 yearson the cheapest unit, e.g. RM498,000… your monthly repayment would be around RM2,000. Add on maintenance fee another RM300/month. Your commitment will be RM2,300/month. 3 years from now, it wouldn’t be hard to imagine that you could at least rent it out for RM2,500/month and get positive income. Why? Just look at properties around The Hamilton. They cannot rent their units out for less than RM3,500 if they want to break even. On capital appreciation, you can definitely sell it for more that what you paid for it. Why? Same reason, the other developments around The Hamilton are already going for RM700,000 and above for the same size, or even smaller! Even if you lower down your price to RM600,000 you still make money and people will bite your hand off for it.

Of course, kalau you nak yg paling dekat and connected directly to LRT station, it is the evergreen Desa Putra.. old, but very well managed, but facilities are not that great. Although closest to LRT, but it’s quite a walk to the shops and Wangsa Walk Mall. At this point in time, I know a few units that are going for RM650,000 (and probably still negotiable). Yes, I’m looking to buy there as well for own stay (lower density, close community, very civilized). At RM650,000.. this is probably RM50,000 to RM70,000 below bank valuation – yes, that’s right. Bank valuation for some of this units can go up to RM720,000.

My relative bought a unit there just a year ago in early 2016, he paid RM740,000 for a basic unit! So in this market, there’s definitely deals to be had. However… you have to remember all the other cost related to subsale… SPA Fee, SPA Stamp Duty, Loan Agreement Fee, Loan Agreement Stamp Duty and Valuation fee. For a RM650,000 price unit, all these fees can cost approximately RM28,000 to RM30,000.

5 comments

Azizi

December 7, 2016 at 7:16 pm - Reply

Such a deep and complete analysis you’ve made. Thank you for the very helpful information. I’d like to know your view as well on another project in Wangsa Maju, called The Quartz (Lexa/Fera).. what do you think about this development? Is it potentially end up as a positive or negative cash flow? What about the ability for the capital appreciation?

Your opinion is highly appreciated.

Cheers!
Chat Property Malaysia
Author

December 21, 2016 at 12:51 am - Reply

Hi Azizi, Quartz is a freehold property developed by a reputable developer from Singapore.
For a 813sf at RM500k+, around RM600psf
Near to LRT and mall, but no walkble, thus mainly target local working adult tenant.
Hence, Rental possibly below RM2000. Could be possible negative cashflow.

Hamilton 1000sf at RM500k+, around 500psf, Leasehold, besides LRT and Mall, rental possible breakeven, mainly target expat working at KLCC / Ampang park thus can afford > RM2000 rental

Rental dictate property price, hence clear answer which project has an up hand for capital appreciation.
Khairul

December 29, 2016 at 2:39 pm - Reply

Hi,
One thing that have major doubt in my mind is developer reputation/ track record as well as their capability to complete multiple projects at one time. That will be the biggest risk to me.
Thanks.
Muhammad

January 16, 2017 at 10:00 am - Reply

Salam, Azizi.
I agree with CPM’s view. In fact, I already secured a booking to buy one of the units at The Hamilton at the private launch event last weekend. At below RM550k psf for a premium view unit facing KLCC, this development cannot go wrong in my opinion. If you look at Wangsa9, Infinity3, LEXA, Quartz and Seri Riana.. they are all much more expansive at RM700+ psf and more importantly, much further from Sri Rampai LRT station.

The unit I bought is a 1,219 sqft facing KLCC… sales price after rebate/special early bird price was RM658,000 = RM539psf. For a premier development, you’d be hardpress to find anything around this price with the same connectivity to LRT/MRT and shopping mall as well as other amenities within a 6 stations of KLCC.

The smaller units were going for RM498 psf for 1,000sqft. Rugi bro tak beli. All 435 units were snapped up between in 5 hours during private launch event haritu. Unbelievable! SPA, Loan Agreement and Stamp Duty for both are all FREE with Developer’s panel Lawyer firm. Mana nak dapat deal macam ni, bro?

But I think above all, as an Investor… the reason I bought this property is because of the upsides on rental and capital appreciation upon completion. Say you take up 90% loan for 35 yearson the cheapest unit, e.g. RM498,000… your monthly repayment would be around RM2,000. Add on maintenance fee another RM300/month. Your commitment will be RM2,300/month. 3 years from now, it wouldn’t be hard to imagine that you could at least rent it out for RM2,500/month and get positive income. Why? Just look at properties around The Hamilton. They cannot rent their units out for less than RM3,500 if they want to break even. On capital appreciation, you can definitely sell it for more that what you paid for it. Why? Same reason, the other developments around The Hamilton are already going for RM700,000 and above for the same size, or even smaller! Even if you lower down your price to RM600,000 you still make money and people will bite your hand off for it.

Of course, kalau you nak yg paling dekat and connected directly to LRT station, it is the evergreen Desa Putra.. old, but very well managed, but facilities are not that great. Although closest to LRT, but it’s quite a walk to the shops and Wangsa Walk Mall. At this point in time, I know a few units that are going for RM650,000 (and probably still negotiable). Yes, I’m looking to buy there as well for own stay (lower density, close community, very civilized). At RM650,000.. this is probably RM50,000 to RM70,000 below bank valuation – yes, that’s right. Bank valuation for some of this units can go up to RM720,000.

My relative bought a unit there just a year ago in early 2016, he paid RM740,000 for a basic unit! So in this market, there’s definitely deals to be had. However… you have to remember all the other cost related to subsale… SPA Fee, SPA Stamp Duty, Loan Agreement Fee, Loan Agreement Stamp Duty and Valuation fee. For a RM650,000 price unit, all these fees can cost approximately RM28,000 to RM30,000.
chan

February 20, 2017 at 7:27 pm - Reply

am interested. pls contact me. able to get loan as stated.