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Jumbo Court Gated Community located 500m past Banana Hill center on Limuru RD
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marketHEAD
#1 Posted : Monday, July 23, 2012 6:27:59 PM
Rank: New-farer


Joined: 1/26/2010
Posts: 35
Location: nairobi
Guys, i found this plots selling for approx 3m which are 50 x 55, they are in a gated-development-controlled environment. The owner is giving a plan for the house which is a 5 bdroom massionate, the house costs apporx 6m to develop according to the developer; promises a laser fence and cabro drive way after completion.

I am considering acquiring 2, one for rental and one for residence; anyone familiar with this project?

what is the valuation of such a house with the best finishing?

what is the rental expectation?

what if i furnish and rent it out as furnishined, how much would a tenant pay with the best modern furniture and finishing?

your views highly appreciated
Success is 20 percent skills and 80 percent strategy.
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kamundu
#2 Posted : Monday, July 23, 2012 6:43:25 PM
Rank: Member


Joined: 5/9/2011
Posts: 786
Location: Mashinani
That project has been there for 3 years. They wanted guys to pay deposit then they use the money to jenga. The project failed then they decided to subdivide individual plots.The house there is poorly done. Rent there at most 30k.
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marketHEAD
#3 Posted : Monday, July 23, 2012 6:59:38 PM
Rank: New-farer


Joined: 1/26/2010
Posts: 35
Location: nairobi
thanks Kamundu, I was there last wkend, the show house was sold to a lady am told for 7m coz as you said it was poorly done, then there are two new houses, olmost done, do you see any hike in plot values short term?
Success is 20 percent skills and 80 percent strategy.
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Sonko Tajiri
#4 Posted : Tuesday, July 24, 2012 12:23:14 PM
Rank: Hello


Joined: 5/17/2012
Posts: 9
That is a failed project, i was there last year they told me for the piece of land is worth 2.5 and the house 4.5 total 8M. Rumour has is the project is owned by a sitting cabinet minister.
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willin2learn
#5 Posted : Tuesday, July 24, 2012 1:26:10 PM
Rank: Veteran


Joined: 2/12/2008
Posts: 1,178
marketHEAD wrote:
Guys, i found this plots selling for approx 3m which are 50 x 55, they are in a gated-development-controlled environment. The owner is giving a plan for the house which is a 5 bdroom massionate, the house costs apporx 6m to develop according to the developer; promises a laser fence and cabro drive way after completion.

I am considering acquiring 2, one for rental and one for residence; anyone familiar with this project?

what is the valuation of such a house with the best finishing?

what is the rental expectation?

what if i furnish and rent it out as furnishined, how much would a tenant pay with the best modern furniture and finishing?

your views highly appreciated



50*55. that's smaller than those 'pipe' umoja plots. I think it's small for that cash.
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