3 bedrooms Apartment in Kenya-Digger - Real estate.Sell and Buy properties in Kenya

3 Bedrooms Apartment In Kenya

Kenya

KES 5,700,000

Description

ASPIRE HEIGHTS
Project Summary
ü 65 apartments in Riruta. (44 x2 bed and 21 3 bed)
ü Affordable pricing but high-quality living
ü Amenities include a rooftop gym, swimming pool, kids’ playground and function hall
ü Targeting the growing urban middle class of Nairobi
ü Total land size is half acre
Investment Opportunity –
OPTION 1 – Cash Pricing
Unit
Current comparative existing apartment prices (KES)
Cash Sale Price (KES)
Expected Asset Appreciation
2 Bed
7,500,000.00
5,750,000.00
30%
3 Bed
9,500,000.00
7,750,000.00
22%
Unit
Current comparative existing monthly rental income (KES)
Expected Rental Yield for Cash buyer
2 Bed
45,000.00
9.4%
3 Bed
55,000.00
8.5%
OPTION 2 – Installment Pricing
Unit
Current comparative existing apartment prices (KES)
Cash Sale Price (KES)
Expected Asset Appreciation
2 Bed
7,500,000.00
6,500,000.00
15%
3 Bed
9,500,000.00
8,500,000.00
11%
Unit
Current comparative existing monthly rental income (KES)
Expected Rental Yield for Cash buyer
2 Bed
45,000.00
8.3%
3 Bed
55,000.00
7.7%
Investment Opportunity –
OPTION 2 –Installment plans
Aspire Heights
FOR A 2 BEDROOM APARTMENT
Price
6,500,000.00
On Booking
650,000.00
Balance to be Paid in 24 Months
5,850,000.00
Per Month Amount
243,750.00
Aspire Heights
FOR A 3 BEDROOM APARTMENT
Price
8,500,000.00
On Booking
850,000.00
Balance to be Paid in 24 Months
7,650,000.00
Per Month Amount
318,750.00
Competitive Analysis
Compared to the apartments in the area our comparative strengths are in:
ü Price
ü Location
ü Size of apartments
ü Amenities
ü Unobstructed views of the valley
ü Proof of concept- We are next to buildings that have been sold and rented
Sale Price and Rental Returns
2 Bedroom
ü Starting market price will be KES 6.5M for limited apartments on installment plans
ü Expected Rental Yields of KES 45,000
ü Predicted value of apartment on completion KES7.5M
ü ROI of 8.3%
3 Bedroom
ü Go to market price will be KES 8.5M for limited apartments on installment plans
ü Expected Rental Yields of KES 55,000
ü Predicted value of apartment on completion KES9.5M
ü ROI of 7.7%
Location
ü 5km to Waiyaki Way
ü 3km to Junction Mall
ü 7km to Yaya Center
ü 10km to Nairobi Hospital
ü 12km to the Hub Karen
Bedrooms
ü 44 2 Bedrooms 1,089 sq feet
ü 21 3 Bedrooms 1,278 sq feet
ü Master ensuite
ü Balcony
ü Yard
ü Vitrified tiles, aluminum windows and granite kitchen
Amenities
ü Swimming Pool
ü Roof top gym
ü Function hall
ü Children's playground
None of our existing competitors offer these amenities, giving Aspire Heights a unique advantage in the area.
Project & Projections Milestones
ü Feb 2020 – Joint Venture Agreement Signed with Landowner
ü July 2020 – Ellipsis Appointed Main Contractor
ü November 2020 – City Council Approvals received
ü December 2020 – Ground Breaking
ü January 2020 – Excavation
ü December 2022 – Estimated Completion