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1120 Park Avenue - good investment?

Posted by eny on 15-Jan 2010

1120 Park Avenue sells for RM185k for 870psf. is it expensive? good for investment with their EZ payment scheme?

Answers (12)

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Posted by Joe on 24-Jan 2010

The pros are very attractive price, strategic location, and the area has potential for urbanization. Nonetheless, the cons are ex-mining land, bad neighborhood, very high density, leasehold status.

With such a low price already, the downside is limited. Whereas the upside could potential be great!

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Posted by Roy Teo on 27-Jan 2010

I'd say the financing scheme is the only thing going for this property. Just pay 10% and nothing else for 4.5 years.

The main question is what happens after 4.5 years? Would the surrounding area have improved significantly or remained the same? Need a crystal ball to see.

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Posted by PaganBoy on 23-Feb 2010

the low price reflects the poor surroundings. congested, with narrow roads in. ex-mining, surrounded by industrial buildings.

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Posted by zuls on 16-Aug 2010

Just short answer

1. Narrow road?
R U sure narrow roads? I think not and it comes with multiple access

2. Ex-mining are?
Why they only used soil digged from 3 storey shoplot project(same project area) and dumped it into the pool. TOday everything was cleared.

3. Low price reflects the poor surroundings?
I'm not say it was poor surrounding area.

4. Surrounded by industrial buildings.
Absolutely not.

5. Future development?
One 1&1/2 supermarket in front of Jalan PJS 1/52, Other area occupied.

6. Nearby amenities?
Cannot explain, just drive-by and see for yourself.

why i can answer all your question??
Currently I'm live at Senja Court Apartment, just opposite the construction area. Everyday I breath for fresh air and signseeing the construction site. Even I know what type of pilling method they used. How many cranes in there.

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Posted by PLY on 16-Aug 2010

I almost buy one of the unit but didn't. Reason? Maybe doubtful about the location and the surrounding...

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Posted by ting on 15-Nov 2012

the design is terrible, the pipes expose at bathroom and kitchen, looks terrible...

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Posted by PLY on 28-May 2013

and right now you see a sea of listings of this 1120, not sure if all the unique listings add up to 1120 listings? I mean, a sea of offers rushing to be unloaded...

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Posted by Kevin Lew on 02-Jun 2013

I wouldn't suggest it.. Myself did "selling" the properties there..
And mainly aren't those "mid-class" type..
Alot of my tenants that I have thier are mainly indian.. not to discriminate race or anything. but i do recieve alot of calls from Indian/Malay wanting to stay there cuz its cheap.

@Roy Teo - I do agree with the "after completion yada yada".. but the entire surrounding is manifested with "low cost - Near mid ranged apartment".

@ All - What do you think of Capital gain or Return on Rental? Will that place increase 10 - 15? Will you even get back your rental yield?

Do do your research.. somethings are cheap but there's a consequence behind it. Research well..

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Posted by Victor Lim on 04-Jun 2013

on 1 June 2013, 1120 Park Avenue is selling at RM400k for 870sf, (RM460psf), compare to RM185k for 870psf in year 2010
I would say it is a very good investment, ex-mining land, bad neighbourhodd, leasehold is small factor

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Posted by zavier on 10-Jul 2013

You are right Victor Lim, despite the naysayer, the caps gained for the past 3 years was already a testimony. If we judge it now for future caps, the price is no longer cheap.

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Posted by K Y Wan on 02-Sep 2013

Before you buy, look at the lyn which is relevant to the developer

https://forum.lowyat.net/topic/2501417/+20

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Posted by wing on 08-Oct 2013

NO. the environment is not good! the price cant increasing.
lease hold, bad neighbour...base on my 10 year experience..the price sure drop!