Mutiara Sentul @ Sentul

Sentul has gone through somewhat a lot of transformation lately thanks to YTL, with projects such as the D's... and spices such as Capers, Saffron, Tamarind etc. Being formerly a Railways quarters, connectivity in Sentul is naturally very good. There are 2 LRT stations within the area and a KTM station. The Titiwangsa monorail is also not far. Almost all the YTL projects have done very well in terms of take up and appreciation. Tamarind for example was launched at around RM200k for a 3 bedroom unit back in 2000 and now worth no less than RM500k. Due to the immense convenience, even the medium and low cost apartments in Bandar Baru Sentul, a leasehold patch along the Sentul Timur and Sentul LRT tracks have seen prices shot up to above RM220k from an initial purchase price of RM120k few years ago.

Picture above: Land marked by YTL for future development

There is more to come. There are large swathes of land, mostly freehold yet to be developed by YTL. There is also a proposal to build the KL-Singapore Bullet Train terminal here (However, this proposal was rejected by the government but it keeps coming back - on and off). Besides, the potential and the connectivity, Sentul is also home to many authentic eateries such as the Charcoal fried noodle pictured below. It is certainly, a very liveable place.

Unfortunatelty, there really isn't many good affordable properties in this area at the moment. As mentioned, the bulk of the appreciation has already taken place on the YTL projects and the leasehold Bandar Baru Sentul flats. However, I managed to chance upon a very attractive property at the center of all this.... Mutiara Sentul...

Location-wise, Mutiara Sentul is not really as hot. Unlike the Bandar Baru Sentul flats, it's almost a 1km walk to the stations. Neverthless, it's still located in the thick of the Sentul action. Mutiara Sentul is sitting right beside the plot where YTL has proposed to build the KL-Singapore Bullet Train terminal. It is also located right at the entrance and exit of the DUKE highway and just a block away from the Sentul Boulevard township.

picture above: Sentul Boulevard

picture above: Swathes of prime land opposite Mutiara Sentul

picture above: The mouth of the DUKE highway

So, here I've found something affordable in Sentul. Priced well below RM200k, you'd get a 950sf, 3-bedroom FREEHOLD unit in Sentul (pictures below).

So, this is a 11 storey building with approximately 200 units, all of them around 900+ sf with car park and security. As per the pictures above, the place looks like a low cost flat, smells like a low cost flat, sounds like a low cost flat but make no mistake, it's actually a condo!

Apparently, the strata-title is yet to be issued to this 10 year old building. However, the management has already been handed over to the owners. The RM150/month per unit maintenance fees among others pay for the upkeep of the swimming pool,

...a gym...

....kiddies play area....

...sauna and a squash court!

At best, it's a Grade C managed building but it's not all that bad as I've seen much worse. There is a good mix of families and migrant workers living here. A non-furnished unit in the most deplorable condition can fetch up to RM1100/month rent. Not bad I think for an investment as in the worst case scenario, you'd see no appreciation but get a good steady rental income. As I have researched, they are extremely hot in the rental market.