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DONE DEAL: Serviced residence at Casa Residency, Jalan Galloway, KL

Casa Residency

Rented for: RM4,000

Concluded by: Meifen Low (REN 06451) of Huttons OneWorld Sdn Bhd (012-653 0714)

When: March 2018

Noteworthy:

Freehold
Built-up: 1,060sq ft,
3 bedrooms and 3 bathrooms
Fully-furnished
Move-in condition
Facilities: One infinity pool and one wading pool, gymnasium, sauna and function rooms
Close to SJK (C) Jalan Davidson, 500m away from Hang Tuah Monorail and LRT stations, 1.5km away from Pavillion KL

Completed in 2012, the 27-storey Casa Residency is located close to the Kuala Lumpur Golden Triangle which is formed by three arterial roads – Jalan Imbi, Jalan Sultan Ismail and Jalan Raja Chulan, surrounded by amenities such as schools, hospitals, offices and shopping malls as well as tourist spots.

The 188-unit, low density serviced apartment is built on a 1-acre freehold plot. Unit built-up sizes range between 535 sq ft and 1,066 sq ft. Leisure facilities include swimming pools, gymnasium, sauna and function rooms.

According to Meifen Low from Huttons OneWorld who concluded the deal, Casa Residency is constantly in demand from working professionals who are looking for spacious units at affordable rents in Kuala Lumpur.

“Rent for a 2-bedroom unit is around RM2,600 and for a 3-bedroom unit, it is about RM4,000. Casa Residency has enjoyed high occupancy rate for its prime location in the heart of Kuala Lumpur,” she added.

Low said the original owner purchased the units when the condominium was completed in 2012 for rental investment. Low declined to reveal the purchase price.

According to transaction data collated by EdgeProp.my, there were 19 transactions at Casa Residency from January 2012 to April 2018 with an average price of RM998 psf over five years or between the average price range of RM957 and RM1,076 psf.

In terms of rental, prices ranged from RM3.57 psf to RM6.71 psf or an  average of  RM4.79 psf, which translate into an implied rental yield of 6.13%.

The current 13 listings on EdgeProp.my showed that the asking price for units at Casa Residency ranges between RM1,064.22 psf and RM1,211.90 psf. The monthly asking rent ranges from RM2,500 to RM4,400 a month.

Interested to buy properties in Jalan Galloway​? Click here.

Editor: To real estate agents — Have you just concluded an interesting deal? We would love to hear from you! Contact us at [email protected]

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