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2brm apartment on Ngong road @ 4.9m
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jaggernaut
#1 Posted : Thursday, May 09, 2013 12:24:28 PM
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Joined: 10/9/2008
Posts: 5,389
Suraya are selling a 2brm apartment on Ngong at 4.95m. The size is 42m sq. Is this a good deal? What's the probable rent for such a unit?

RINK
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For Sport
#2 Posted : Thursday, May 09, 2013 12:57:28 PM
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Kshs. 117,857 per square foot.
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propertyzote
#3 Posted : Thursday, May 09, 2013 3:12:22 PM
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Depends from what side you are looking at it. For a business person who is looking for returns on rent may consider it..But for a home owner..this is not a good deal. You may as well settle for.. a 3 bedroom house for sale in Matasia Ngong. The house is serviced with water and electricity and it is 500 meters from the main road. The house it’s in an area which is developing and it has a small garden area. The plot has a title deed and the size is 50*100.The price of the house is 4.9M. http://www.propertyzote....airobi+Matasia-2762.html
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For Sport
#4 Posted : Thursday, May 09, 2013 3:44:04 PM
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propertyzote wrote:
Depends from what side you are looking at it. For a business person who is looking for returns on rent may consider it..But for a home owner..this is not a good deal. You may as well settle for.. a 3 bedroom house for sale in Matasia Ngong. The house is serviced with water and electricity and it is 500 meters from the main road. The house it’s in an area which is developing and it has a small garden area. The plot has a title deed and the size is 50*100.The price of the house is 4.9M. http://www.propertyzote....irobi+Matasia-2762.html

The initial question was how much rent are these units likely to attract?
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kourage
#5 Posted : Thursday, May 09, 2013 4:13:07 PM
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2BR and 42sqm? That's a lodging not a house to stay. Too tiny.
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dunkang
#6 Posted : Thursday, May 09, 2013 4:26:35 PM
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Joined: 6/2/2011
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For Sport wrote:
Kshs. 117,857 per square foot.

Will you mind explain your calculation.

My calculation shows KES10,000 per square foot.
Receive with simplicity everything that happens to you.” ― Rashi

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jaggernaut
#7 Posted : Thursday, May 09, 2013 4:35:58 PM
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Joined: 10/9/2008
Posts: 5,389
dunkang wrote:
For Sport wrote:
Kshs. 117,857 per square foot.

Will you mind explain your calculation.

My calculation shows KES10,000 per square foot.


He/she must have meant 117,857 per sq mt.
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maka
#8 Posted : Thursday, May 09, 2013 10:43:51 PM
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eish this is small....
possunt quia posse videntur
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For Sport
#9 Posted : Friday, May 10, 2013 8:28:34 AM
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Joined: 12/23/2010
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jaggernaut wrote:
dunkang wrote:
For Sport wrote:
Kshs. 117,857 per square foot.

Will you mind explain your calculation.

My calculation shows KES10,000 per square foot.


He/she must have meant 117,857 per sq mt.

Thanks @jaggernaut.
they're microscopic but looks like they're sold out
(check their website)
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Pesa Nane
#10 Posted : Friday, May 10, 2013 10:15:28 AM
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Joined: 5/25/2012
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Location: 08c
For Sport wrote:

Thanks @jaggernaut.
they're microscopic but looks like they're sold out
(check their website)

That's the Diaspora Effect. Considerations being .. 2Bedroom....Ngong' Road...Ksh. 4.9M PAP
Pesa Nane plans to be shilingi when he grows up.
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jaggernaut
#11 Posted : Friday, May 10, 2013 11:08:18 AM
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Joined: 10/9/2008
Posts: 5,389
I think they are good for investment purposes since they could easily fetch a rent of at least 45k pm mainly on the basis of location, not size. The target would be mainly young middle class professionals who would want to live (and be seen living) on Ngong road but can't afford the 75k rent for neighboring 3bdrm apartments.

At 45k pm the ROI would be 11% which is good. Compare this to someone who bought a 3bdr apartment in the neighbourhood at 15m and rents out at 75k, i.e a ROI of just 6%.
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propertyzote
#12 Posted : Saturday, May 11, 2013 4:00:02 PM
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Joined: 8/25/2010
Posts: 283
Location: Nairobi
jaggernaut wrote:
I think they are good for investment purposes since they could easily fetch a rent of at least 45k pm mainly on the basis of location, not size. The target would be mainly young middle class professionals who would want to live (and be seen living) on Ngong road but can't afford the 75k rent for neighboring 3bdrm apartments.

At 45k pm the ROI would be 11% which is good. Compare this to someone who bought a 3bdr apartment in the neighbourhood at 15m and rents out at 75k, i.e a ROI of just 6%.

Could you be specific on the location Ngong Road Start from NSSF/State House Avenue Traffic Lights through Community(Upperhill) Area, Traffic HQ, Prestige, The Junction, Karen all the way to Ngong Town.
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jaggernaut
#13 Posted : Saturday, May 11, 2013 8:10:47 PM
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Joined: 10/9/2008
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propertyzote wrote:
jaggernaut wrote:
I think they are good for investment purposes since they could easily fetch a rent of at least 45k pm mainly on the basis of location, not size. The target would be mainly young middle class professionals who would want to live (and be seen living) on Ngong road but can't afford the 75k rent for neighboring 3bdrm apartments.

At 45k pm the ROI would be 11% which is good. Compare this to someone who bought a 3bdr apartment in the neighbourhood at 15m and rents out at 75k, i.e a ROI of just 6%.

Could you be specific on the location Ngong Road Start from NSSF/State House Avenue Traffic Lights through Community(Upperhill) Area, Traffic HQ, Prestige, The Junction, Karen all the way to Ngong Town.


Karibu Prestige, behind Uchumu ngong road.
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