DONE DEAL: Seri Pinang Apartment, Bandar Setia Alam, Shah Alam, Selangor

Sold for: RM290,000 (RM341 psf)

Concluded by Raymond Yii (REN 20381) of BT Properties (011-3315 4820)

When: March 2017

Noteworthy:
● Freehold
● Low density
● 3-bedroom and 2-bathroom unit
● Built-up: 849 sq ft
● Gated-and-guarded with card system boom-gate
● Two open parking bays

According to Raymond Yii of BT Properties Sdn Bhd, who concluded the deal, the seller was an investor who owns several properties in Setia Alam, Selangor.

“The seller is letting go this unit to invest in other properties in Setia Alam while the new owner is buying the unit for own stay,” Yii said, adding that Seri Pinang Apartment is a low density project.

Developed by S P Setia Bhd, the freehold project has 550 apartment units housed over three 11-storey blocks. Each unit comes with two open car parking park.

Yii said the market price of an apartment unit in the project ranges from RM290,000 to RM320,000. The maintenance fee for the apartment is RM136 per month.

Seri Pinang is a gated-and-guarded development and is near amenities such as Setia City Mall, Tesco, Giant Hypermarket Klang Sentral and national and international schools.

Facilities include swimming pool, children’s pool, gymnasium, laundrette, badminton and futsal courts and children’s playground.

Setia Alam is accessible via the Setia Alam-New Klang Valley Expressway (NKVE) Link. Soon, the proposed new link to Seksyen U10, Shah Alam or Alam Budiman would also allow access to the upcoming Damansara-Shah Alam Elevated Highway (DASH).

Other similar affordable apartment projects there are Seri Baiduri, Seri Jati, Seri Intan, Seri Kasturi and Seri Mutiara.

There are 12 available listings on TheEdgeProperty.com which showed that the average asking price in Seri Pinang is RM361,333 or RM396 psf. The latest asking monthly rent is RM1,017 or RM1.17 psf, while the indicative asking rental yield is 4.5%.

According to data from TheEdgeProperty.com, a 915 sq ft apartment at Seri Pinang was transacted at RM450,000 or RM492 psf in 3Q2016.

Interested to buy properties in Bandar Setia Alam? Click here.

Editor: To real estate agents — Have you just concluded an interesting deal? We would love to hear from you! Contact us at [email protected]