Sri Emas is a freehold condominium located in Jalan Galloway, Pudu. It is surrounded by multiple residential projects in the area. Consisting of only one 25-storey block, the built-up space of the project ranges from 1,121 sq ft to 1,334 sq ft.
Meifen Low of One WSM Property Sdn Bhd, who concluded the deal, said that the buyer is an investor looking for a unit in the heart of Kuala Lumpur to rent out.
She noted that the reason for this is because the investor also wants to reap the benefit with the upcoming completion of the Menara Merdeka 118 and Bukit Bintang City Centre projects.
Meanwhile, as the unit is currently tenanted, the previous owner sold the unit with tenancy and therefore the investor managed to enjoy instant rental income at the same time.
Low added that it was a good deal as the usual price is normally priced at around RM630,000 for a 1,200 sq ft.
According to EdgeProp Research, an average transacted price of RM545,000 or RM408 psf in 2019 were recorded for only one unit in Sri Emas. No transacted data was recorded for 2020.
As of December 2021, only one unit has been listed for sale in EdgeProp.my with an asking price of RM500,000 or RM428 psf while eight units have been listed for rental with an average asking price of RM1,893.75 or RM1.41 psf.
Planning to buy or sell a home? With EdgeProp's FREE transacted price tool, you can check past transaction prices for any property by name or area and make an informed decision.