Wazua
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3 Bed Room Apartments on Lenana Road
Rank: New-farer Joined: 1/16/2012 Posts: 56
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Hi Wazuans.Some family friends wanted to pitch me into buying an apartment complex they own and currently under construction on Lenana Road, very proximal to Cactus bar/restaurant. Can someone guide me into a realistic and market value for three bed room apartments in that side of upscale kilimani. All three bedrooms are en suite and there is an additional servant quarter with its own entry and bathroom. A good realistic price range would be appreciated. Is Ksh 20m a realistic price given the current trend in those areas. I have checked few other apartment complex in those areas, among one opposite Casablanca and much smaller going for Ksh 25m and an upcoming one on Kasuku Road going for Ksh 30m..... Based on these, I am guessing these guys being family friend aren't there to flee me. Nevertheless, its better to be safe than sorry thus would appreciate wazuans in real estate market for their constructive feedback. Asanteni all.
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Rank: Elder Joined: 2/26/2008 Posts: 4,449
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Wouldn't it be best to engage the professional services of a property valuer? They are many online e.g. Tysons, Lloyd Masika Ltd etc
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Rank: New-farer Joined: 1/16/2012 Posts: 56
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ecsytacy true but they would be charging a hefty fee for a complex that is still not full complete and only awaiting final finishing. From what I am told the apartment complex should be ready by April. All in all, I would prefer to guage wazuans here and do my own tarmacking and compare the locality with existing prices before I pay my initial deposit by mid this month. To be very candid from what I have inquired so far, its price seem to be below par in comparison to the apartments coming up in its vicinity and with pretty much same services. Thanks again ecstacy and looking forward to others feedback. Asanteni all.
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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Wait is it an "Apartment complex" or "an apartment"??What's the square footage? Amenities?? Service charge?? How long is the lease?? Is it 99years or the 50yr ones??
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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Horton wrote:Wait is it an "Apartment complex" or "an apartment"??What's the square footage? Amenities?? Service charge?? How long is the lease?? Is it 99years or the 50yr ones?? @Tgoldman, A cousin to a friend of a friend's brother's nephew has just bought 3br all en-suite, sq with own entrance, 252 m2, lift, parking for two, no pool/sauna/gym, 32 units in compound for ksh 23M mortgage. The shainise man would have taken ksh 19M cash money. The lease is 99yrs, started in 1968, service charge 10k - Kileleshwa. I understand those new walalo apartments at Lenana/Ring Road Kilimani (near SA High Commission) - 3br, one en-suite are going at ksh 23M before bargaining.
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Rank: Member Joined: 10/8/2010 Posts: 446 Location: london
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Gordon Gekko wrote:Horton wrote:Wait is it an "Apartment complex" or "an apartment"??What's the square footage? Amenities?? Service charge?? How long is the lease?? Is it 99years or the 50yr ones?? @Tgoldman, A cousin to a friend of a friend's brother's nephew has just bought 3br all en-suite, sq with own entrance, 252 m2, lift, parking for two, no pool/sauna/gym, 32 units in compound for ksh 23M mortgage. The shainise man would have taken ksh 19M cash money. The lease is 99yrs, started in 1968, service charge 10k - Kileleshwa. I understand those new walalo apartments at Lenana/Ring Road Kilimani (near SA High Commission) - 3br, one en-suite are going at ksh 23M before bargaining. You can get a fairy good 0.5 acre plot in garden estate or ridgeways for 15m. Add another 15m and you will build your own character kingdom or castle. My take though.
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Rank: Elder Joined: 6/2/2011 Posts: 4,824 Location: -1.2107, 36.8831
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african coloner wrote:Gordon Gekko wrote:Horton wrote:Wait is it an "Apartment complex" or "an apartment"??What's the square footage? Amenities?? Service charge?? How long is the lease?? Is it 99years or the 50yr ones?? @Tgoldman, A cousin to a friend of a friend's brother's nephew has just bought 3br all en-suite, sq with own entrance, 252 m2, lift, parking for two, no pool/sauna/gym, 32 units in compound for ksh 23M mortgage. The shainise man would have taken ksh 19M cash money. The lease is 99yrs, started in 1968, service charge 10k - Kileleshwa. I understand those new walalo apartments at Lenana/Ring Road Kilimani (near SA High Commission) - 3br, one en-suite are going at ksh 23M before bargaining. You can get a fairy good 0.5 acre plot in garden estate or ridgeways for 15m. Add another 15m and you will build your own character kingdom or castle. My take though. That's the best way to put it in its correct perspective. Even a 5M/= House is acceptable compared to an apartment let alone a 15M/= Castle. Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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Hmmm @dukang??? Maybe not so. Too many things to consider.
1.Many people don't like stand alone houses due to security issues, hiring all those extra staff(gardeners, watchies, etc)
2. Location? I have a friend who has a beach front 3 br flat in Nyali. Could u compare that to a stand-alone in Utange?(as standalone houses in Nyali are quite rare)
@TGoldman if it's 2250 Sq ft. It's an ok deal. Is it for investment? Don't know much about lenana road, however, I was offered on ole-dume road @16m 3br. But those were 1800sqf and the finishing was ok.
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Rank: Elder Joined: 6/2/2011 Posts: 4,824 Location: -1.2107, 36.8831
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Horton wrote:Hmmm @dukang??? Maybe not so. Too many things to consider.
1.Many people don't like stand alone houses due to security issues, hiring all those extra staff(gardeners, watchies, etc) That was a funny one. Guy, you are HILLARIOUS! Horton wrote:Hmmm @dukang??? Maybe not so. Too many things to consider.
2. Location? I have a friend who has a beach front 3 br flat in Nyali. Could u compare that to a stand-alone in Utange?(as standalone houses in Nyali are quite rare.
Here, we are comparing Lenana Rd and Garden Estate, and not Lenana Rod and Buruburu. Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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dunkang wrote:Horton wrote:Hmmm @dukang??? Maybe not so. Too many things to consider.
1.Many people don't like stand alone houses due to security issues, hiring all those extra staff(gardeners, watchies, etc) That was a funny one. Guy, you are HILLARIOUS! Horton wrote:Hmmm @dukang??? Maybe not so. Too many things to consider.
2. Location? I have a friend who has a beach front 3 br flat in Nyali. Could u compare that to a stand-alone in Utange?(as standalone houses in Nyali are quite rare.
Here, we are comparing Lenana Rd and Garden Estate, and not Lenana Rod and Buruburu. What's funny about that? I'm in the business for a long time and it's just what we have seen over the years.
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3 Bed Room Apartments on Lenana Road
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