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Buying a unit (share) in apartment complex
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Ndaragwa
#1 Posted : Tuesday, April 26, 2011 11:46:17 PM
Rank: Member


Joined: 3/12/2011
Posts: 108
Please advice - Is it a good deal to buy a unit in this apartment complex located in Zimmerman? The unit consist of 4, one-bedroomed apartments. The apartment has four floors, so I would have one bedroom apartment on each floor (each apartment on top of the other). There are 5 other members, each with either 4 one-bedroomed apartments or 8 apartments if they have two units. The monthly rent per apartment is 6K, therefore 24K/month for all 4 apartments.Going price for the unit is 1.9m. Based on your analysis, is this a good or a bad deal?
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Ceinz
#2 Posted : Wednesday, April 27, 2011 8:43:10 AM
Rank: Veteran


Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
Compare with a new 2 bedrooms apartment on Mombasa Road, giving u an exclusive rent of 15 K pm. For Ksh 3.5 M. If I were u I would diversify.
“small step for man”
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action!
#3 Posted : Monday, May 09, 2011 10:04:51 AM
Rank: Member


Joined: 9/17/2009
Posts: 47
Go for it. Just make sure the deal between all the partners is secure. Get a lawyer to look at it and advise. Your 6k bedroom will fetch you more in 2 years time when Thika road is complete and in full use.
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