Located within six driving kilometres from KLCC is Sri Mutiara, a freehold apartment located off Jalan Sungai Besi. This property is next to PPR Seri Alam and near Mah Sing’s Southgate Commercial Centre, an integrated development which is accessible by foot via an overhead bridge. Some of our readers here at PropertyReviews.my think that the apartment is crap, but then again who is comparing this with, say, Ken Bangsar? Sri Mutiara is fine for what it is.
With prices of city apartments etching upwards towards RM600 PSF for bare units, there could be renewed demand for middle of the range apartments such as Sri Mutiara. Average for sale prices for units at the Sri Mutiara are currently listed at around RM230 to RM245 per square feet. To some buyers this can be quite a steal, considering its close proximity to the city. Residents looking for convenience versus amenities or facilities can take advantage of Sri Mutiara’s reasonable prices, as well as for investors who are looking to rent out units in order to achieve high rental returns by the end of the year. Compared with properties in Sungai Besi which are more upmarket-ish (such as Midfields) Sri Mutiara represents the more affordable choice. For a method on estimating the fair price for Sri Mutiara, use this downloadable guide.
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Sri Mutiara is made up of 11 storeys. Residents can choose from a one-bedroom, two-bedroom, or a three-bedroom unit. Built-up areas for these units start at 800 square feet, and its largest units are measured at 1,235 square feet. Units at the Sri Mutiara also come with one to two bathrooms. The apartment boasts of a two-tier 24-hour security system, complete with access cards given to its residents for added security. Amenities and facilities include a swimming pool and covered parking exclusive for its residents. What else would you expect? Jacuzzi? 😉
Sungai Besi – A Fringe City Location
The Sri Mutiara is located in the heart of Sungai Besi; this area can be really convenient for singles and families, as it is close to supermarkets, schools, and hospitals. The apartment is only a stone’s throw away from Jalan Loke Yew. It’s easy to find convenience stores and supermarkets in here. As for schools, Sri Mutiara is also within walking distance to Sam Yoke School, as well as Sekolah Menengah Pudu, and Chung Kwo Primary School. Medical centres are also abundant, and they include Ng Lee’s Clinic and Lecadia Primacare Centre. ommuting is also made possible by bus services and nearby train station, which is about half an hour by foot.
Sri Mutiara is one of the few residential properties that is priced lower, as compared to other condominiums or apartments that are also close to the Kuala Lumpur city centre. We like Sri Mutiara for its practicality; there are no pretensions of being upmarket, and its location is advantageous given the proximity to the city centre and also the multitude of amenities which are accessible by foot. Its closeness to Southgate is a strong selling point.
Investment-wise, one could argue that the appeal to the rental market will always be there due to the tenant-friendly configuration, location and prices. If you’re considering of securing a unit for rental purposes, remember to pay near or below fair market price so that the rental yield is maximized. For a guide on how to do this, download this guide below (which is free courtesy of GoodPlace.my) –