Here are the results of the renovations. Refer to here (http://realtymalaysia.blogspot.com/2009/10/renovations-at-pangsapuri-subang-jaya.html) for pictures before renovation.
picture above: The biggest room in the apartment is for double occupancy
pictures above and below: This used to be the kitchen, now renovated and become a double room with a double-decker bed
picture above: The 3rd bedroom
picture above: The biggest bedroom came with a built in cabinet and dresser which we painted white to blend in the wall colour
picture above: the living room
picture above: the ikea kitchen which was really a pain to install especially that white cabinet at the bottom. You need 2 people 4 hours to put it together! The kitchen backsplash will protect the walls from oil and water stains
picture above: as this house is intended for students, the shallow sink would discourage them from piling in unwashed dishes for weeks. There is a filtered drinking water dispenser on the left as students would be too lazy to boil their drinking water and water in the SS15 Subang Jaya area is very dirty due to the old pipes
picture above: The dressing area
picture above: The dining area
picture above: The small bathroom cum toilet
picture above: The smaller bathroom
picture above: The bigger bathroom - both bathrooms are common
Sin Leong, the apartment looks great and you've put in expensive fittings. The students would enjoy living in your apartment.
ReplyDeleteHi Sin Leong,
ReplyDeleteI'm wondering whether you've any information / expertise in Casa Subang serviced apartments to share.
The current unit i'm looking at for investment purposes is having a 5yrs contract (3yrs+ to go) with the developer for rental to Taylor's College students, with optional renewal after the contract ends in another 3+yrs.
The agent's feedback on rental is that it'll fetch $1,200 to $1,400 pm (682sf). The current rental is $1,266pm.
The investment data calculated are as follows:
1. Yield pa for the cost involved: 5.89%
2. Cash on Cash returns pa: 14.01%
3. Payback Period: 7.14 years
4. Capitalization Rate: 4.53%
Based on the above investment data, it's not bad BUT i'm worried about the Casa Subang's management (read from the Net that security isn't as it should be for a serviced apartment + lifts are frigging slow ie. 20minutes wait at times!). Thus, have you heard on any of these qualitative issues?
Hi Sin Leong,
ReplyDeleteCan you share how much you spent on the renovation and furnitures?
Yvonne
MK, your yield suggests that the selling price for a 682sf in casa subang is RM240k. you did not tell me what is the maintenance fees. the price seems to suggest that the developer has built in the rental for 5 years into the selling price. which means the real value should be RM170k. while i am aware that there are taylors students staying in casa, it is not exactly the most convenient location. casa is no where near taylors. casa is near segi college. the segi college in usj specializes in adult education which means they are mainly working students who do not need accomodation. public transport in usj is also very very bad and the 1 and only access road into usj1 is very clogged up during rush hour. they are planning to build a 2nd access into usj1 from kesas but that means you have to pay toll RM2.40 one way. the figures look ok for investment because the developer is artificially propping it up. so, i'll avoid casa at all costs.
ReplyDeleterenovations less than 20k, including furnishings...
ReplyDeleteThank you very much!
ReplyDeleteHi Sin Leong,
ReplyDeleteSuch a nice renovation. Wish I had creativity like you (and time too)!
Good luck with finding the tenants!
hey...may i know when will u start renting?im interested.
ReplyDeletepls send me an email to monkey394@yahoo.com
thanks
Hi Sin Leong,
ReplyDeleteCan you share your contractor's contact ?
Adrian
Hello sinleong,
ReplyDeleteHope I am not too late to wish you Happy CNY. I also want to know your good contractor's contact.
Dear Sin Leong
ReplyDeleteRecently found a unit in the above pangsapuri. Somehow instead of your success stories, the current owner found a myriad of problems (and was kind enough to share the details:
1. Students are dirty, leaving food leftovers & rubbish in the common dining & kitchen areas as they are only interested in keeping their own rooms clean.
2. Old pipes bursting.
3. Old rooftiles leaking (4th floor unit).
He said I should only buy if I am prepared to do a lot of hands-on managing the apartment.
Can you share your experience & what is a good price to buy (esp 4th floor) as through the many subsales, the price has gone higher, yet valuation is a problem.
Dear Sin Leong,
ReplyDeleteGreat job on the renovation, very nice :)
Anyway, I am soon going to study in Taylor's College .I dont know if im too late but is there any chance that you still have room for me to rent ?I am very intersted.
You can also reply to my email if you want danloves_ashley@hotmail.com
Thankyou,
Ashley Ooi
thanks for the compliments. we are full house at the moment. will contact you if any vacancy occurs.
ReplyDeleteoh ok thankyou very much , hope to hear from you soon :)
ReplyDeleteHi Sinleong,
ReplyDeleteEmm...i know that the rooms in your apartment are full now , but is there any chance that you know anyone (neightbours/friends)that is renting out a room in Pangsapuri? im going to study in Taylor's soon and i still cant find a room to rent =.=''So sorry for disturbing you but im kinda desperate here >.<
Thanks for reading this and hope to hear from you soon :)
Hi Sin Leong,
ReplyDeleteBeen following your blog since early this week, very great info and you are really good with renovations. May I have your contractor's contact as I would like to renovate my house in Subang Jaya soon. Thanks.
I have come to realize that my contractor is actually very expensive, although he (sometimes) delivers quality work and follows up very well. So, I decided I should not recommend him to anyone in case you guys complain that I am making money. if you like me to help out with your renovation by giving ideas, i'll be happy to do that without involving my contractor
ReplyDelete