DONE DEAL: Arnica Serviced Residences, Tropicana Gardens, Kota Damansara

Sold for: RM1.283 million (RM1,000 psf)

Concluded by: Ann Soh (REN 03232) of One Sunterra Properties (010-6567717)

When: April 2017

Noteworthy:
● Leasehold
● Built-up area: 1,283 sq ft
● 3-bedroom and 3-bathroom unit
● Two car parking bays

According to the negotiator Ann Soh of One Sunterra Properties, the seller is an investor who bought the unit from the developer at RM1.04 million (RM809 psf) in January 2013 after a 2% discount from the RM1.28 million selling price. The buyer had not lived in the property prior to selling the property.

“There were a lot of investors who bought units in Tropicana Gardens. The condition of the unit — which was handed over at the beginning of this year — is brand new. The bathroom and kitchen are fully furnished.

“The 1,283 sq ft unit was transacted at RM1,000 psf. The investor took a profit of 23% upon completion. The current rental yield is about 5%, which is not too shabby, considering where we are in the current market cycle,” Soh added.

She noted that the new owner or tenant of the unit will enjoy a “million-ringgit” view of the golf course at Tropicana Golf & Country Resort.

Developed by Tropicana Corp Bhd, Tropicana Gardens has excellent connectivity and is strategically located. This newly completed, integrated development is directly connected to Surian MRT (Mass Rapid Transit) station and is only seven stations away from KL Sentral. There are four serviced apartment towers in the development — Arnica, Bayberry, Cyperus, and Dianthus. The 17-acre development will also have a five-level shopping mall and offices.

“Almost all the major banks are located just across the road. It was immensely popular, so much so, phase one was fully sold within half a day during launch,” Soh shared.

“Up until recent months, tenants were mainly from the nearby international schools and companies. However, the recent completion of the Semantan-Kajang MRT line will cast the net wider. The future LRT 3 (Light Rapid Transit), relocation of the Tropicana Corp headquarters, and the Kwasa Damansara township will have a positive spill over effect on Tropicana Gardens,” she added.

According to the data from EdgeProp.my, the average asking sale price is RM911 psf while the average asking rental is RM3.21 psf as of October 2017.

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