DONE DEAL: Unit at 10 Mont’Kiara condominium, Mont’Kiara, KL

Sold for: RM3.6 million or RM880psf

Concluded by: Freeman Woo Chee Meng of MIP Properties (012-656 7617)

When: January 2016

Noteworthy:
* Freehold
* Partly furnished unit
* Built-up: 4,090 sq ft
* 4+1 bedrooms, 5 bathrooms and 3 parking bays
* Faces the swimming pool
* Facilities include indoor basketball, badminton court, fitness studio, indoor futsal court, indoor golf simulators, gym and sauna, swimming pools and tennis courts.

10 Mont’Kiara, also known as MK10, is a luxury condominium on Jalan Kiara 1, Mont’Kiara, Kuala Lumpur. Built in 2009, the 7.35-acre freehold development comprises two 42-storey residential towers of 332 units of between 3,478 sq ft and 8,000 sq ft in built-up area.

According to the agent, Freeman Woo Chee Meng of MIP Properties, the buyer acquired the unit for investment. Units of this size can fetch rents of between RM13,000 and RM15,000 a month, depending on condition.

“The buyer is now staying in another unit in MK10. Investment aside, he bought the unit which comes with three car parking bays because he needed an extra parking bay for himself. So, he is going to rent out the newly bought unit with two parking bays, keeping the third one for his own use,” he added.

The seller was a foreign investor.

MK10 is located close to Plaza Mont’Kiara, Publika and One Mont’Kiara; and international schools such as Garden International School, among others. It is accessible via Penchala Link, Federal Highway, North-South Highway, North Klang Valley Expressway and the Duta-Ulu Klang Expressway.

Data from TheEdgeProperty.com shows that a total of 17 units in MK10, sized from 3,627 sq ft to 4,090 sq ft, changed hands between 2Q2014 and1Q2015. These were sold at between RM2.912 million and RM3.546 million, or at an average price of RM791psf to RM934psf.

Meanwhile, currently posted on TheEdgeProperty.com are some 156 listings on MK 10. The average asking monthly rent is for MK10 stands at RM12,934, or RM3.51psf, putting the indicative asking gross rental yield at about 4.9%.

Interested in other properties in Mont'Kiara? Click here to check them out.

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