wazua Sun, Apr 26, 2026
Welcome Guest Search | Active Topics | Log In

4 Pages123>»
Olonyori Estate - Syokimau/Mlolongo
Options
Previous Topic · Next Topic
mungaits
#1 Posted : Tuesday, January 07, 2014 10:01:25 PM
Rank: Member

Joined: 9/20/2007
Posts: 252
Hi Wazuans,

I saw the houses in Olonyori Estate on the property show last week and I must say they are quiet impressive.

A 2 bedroom apartment going for 4m looks like a bargain considering other nearby properties. Even better the units are ready for occupation and the potential rent is 25,000 per month.

Link; http://www.heritanproperties.com/#!olonyori-estate/cciv

Has anyone been to the place, kindly share your thoughts.

I will be visiting the place this weekend and will also share my findings.

Asanteni
Back to top
  |
bizbyte
#2 Posted : Tuesday, January 07, 2014 11:01:26 PM
Rank: New-farer

Joined: 5/25/2010
Posts: 27
Location: Nairobi
Been there, they are quite nice. Good finishes. Slightly larger than Greatwall phase 1 (2br). 25k is the going rate but most blocks still empty, the going rate might reduce as competition for tenants increases.
At the purchase price of 4M though one can get away with a cash purchase of Greatwall 3br (phase 3) which I would consider to be a better buy.

cheers
Back to top
  |
Gathige
#3 Posted : Wednesday, January 08, 2014 8:15:07 AM
Rank: Elder

Joined: 3/29/2011
Posts: 2,242
@25k/month rent translates to a payback period of about 13 yrs!. This is quite a poor rate of return esp considering future repairs and maintenance for a rental property. Better value if used for own accommodation
"Things that matter most must never be at the mercy of things that matter least." Goethe
Back to top
  |
propertyzote
#4 Posted : Wednesday, January 08, 2014 9:44:31 AM
Rank: Member

Joined: 8/25/2010
Posts: 283
Location: Nairobi
The project having been done by Pam Goldings, somewhat scored low. The neighborhood is good, well spaced blocks. The down side is the bedrooms are quite small. Sitting room and Kitchen are acceptable. But then again the balcony is in the master bedroom. Kitchen has a washing area. The stairways are spacious but dark. I can share photos if you like. Unless you want to tie down your cash. I agree with Bizbyte Greatwall 3br (phase 3) is a better deal. Or you can settle for 2 bedroom in five star.
www.propertyzote.com the ultimate ‘one stop online shop’ of choice connecting more people with more properties at the click of a button
Back to top
WWW
  |
kryptonite
#5 Posted : Wednesday, January 08, 2014 10:23:16 AM
Rank: Member

Joined: 2/1/2010
Posts: 272
Location: Nairobi
propertyzote wrote:
The project having been done by Pam Goldings, somewhat scored low. The neighborhood is good, well spaced blocks. The down side is the bedrooms are quite small. Sitting room and Kitchen are acceptable. But then again the balcony is in the master bedroom. Kitchen has a washing area. The stairways are spacious but dark. I can share photos if you like. Unless you want to tie down your cash. I agree with Bizbyte Greatwall 3br (phase 3) is a better deal. Or you can settle for 2 bedroom in five star.



I also noticed this about the design. Would have been better to move it to the sitting room and allocate more floor area and closet space to the master bedroom
The harder you work, the luckier you get
Back to top
  |
madollar
#6 Posted : Wednesday, January 08, 2014 10:50:13 AM
Rank: Veteran

Joined: 11/17/2009
Posts: 2,040
Location: GA
Gathige wrote:
@25k/month rent translates to a payback period of about 13 yrs!. This is quite a poor rate of return esp considering future repairs and maintenance for a rental property. Better value if used for own accommodation

and those monthly management fees .How much is being paid here
Back to top
  | | Edit by user: Wednesday, January 08, 2014 10:54 AM | Reason: Not specified
Ericsson
#7 Posted : Wednesday, January 08, 2014 11:44:55 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,819
Location: NAIROBI
@Gathige;
The payback period at 13 years is good.
In most estates/residential property the average is 18 years
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Back to top
WWW
  |
a4architect.com
#8 Posted : Wednesday, January 08, 2014 12:02:45 PM
Rank: Veteran

Joined: 1/4/2010
Posts: 1,668
Location: nairobi
Internationally, 15 years is the standard bench mark for real estate ROI.

http://www.a4architect.c...ial-projects-in-nairobi/
As Iron Sharpens Iron, So one Man Sharpens Another.
Back to top
WWW BLOG
  |
Ericsson
#9 Posted : Wednesday, January 08, 2014 2:33:00 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,819
Location: NAIROBI
@a4architect.com;
In Nairobi there is a very big mismatch.The prices grew faster than the rent so to get benchmark of 15 years very very hardd
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Back to top
WWW
  |
mungaits
#10 Posted : Wednesday, January 08, 2014 2:43:11 PM
Rank: Member

Joined: 9/20/2007
Posts: 252
Thanks guys for your views and thoughts.

I will visit the development kesho and will also share my findings.

Asanteni
Back to top
  |
4 Pages123>»
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Wazua Investor Theme
Powered by YAF | YAF © 2003-2009, Yet Another Forum.NET
Copyright © 2026 Wazua.co.ke. All Rights Reserved.