Thursday, March 4, 2010

2 room flat in Wangsa Maju Section 1

To give you more confident on Plaza Melati, please read the story below.

In 2007, my brother bought a 2 room flat in section 1, Wangsa Maju, Setapak. This is a 5 storey walk up flat and was built on 1989, the earliest project in so call Bandar Baru Wangsa Maju. My brother unit is on the 2nd floor with about 580sf, and it is about 300 meter away from Wangsa Maju LRT Station.
After took over the flat, we tiled the floor (original was cement slab), provide a small fridge and a washer and repainted the flat. My brother bought at a good price after a tough negotiation.
Currently it is rented out at RM700 and it is more than 10% net rental return.
The success of this investment because:-
1. Near LRT station
2. Near Shopping Mall - Alpha Angle and Jusco
3. Easily connected to MRR2, DUKE, Jln Jelatek, Jln Genting Kelang, AKLEH
4. Primary and Secondary just near by
5. Near to College and University
6. Foods and restaurant are plenty
7. Near to KLCC, 15 mins through LRT
8. Setapak is growth area over last 3 years and for next 5 years.

Although section 1 flat is consider as low cost flat where it was provided for lower income group 20 years ago, but now it is changed due to development of Wangsa Maju and KL over last 20 years.

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