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Mutiara Court in Gelugor, Penang is a freehold apartment development comprising 6 distinct blocks, each with a height of 3 storeys. This medium density property has been in the market since 1989 but is still holding up well. This is a walk-up property as there are no elevators available.
The apartment units have a built-up area of 960 sf and a total of 186 units. Each unit comes with 3 bedrooms and 2 bathrooms, which may very well be enough for a small family. Since its inception till today, most units have been occupied, hence many units for sale or rent will come fully furnished. Facilities are the barest with only a carpark, landscaped garden and 24-hour security provided, which is maintained through a fee of RM70 per month from each unit.
However, amenities are plentiful along Jalan Bukit Gambier where the property is situated, where residents will find the regular cafes, banks, clinics, restaurants, and much more in the shop lots nearby. It is also good to note that the Lam Wah Ee Hospital and Bukit Dumbar Park are also within a short drive’s distance.
There is also a good choice of schools in the area, and residents can pick from institutions like the SK Jelutong Barat, University Sains Malaysia, Hamid Khan Secondary School, Datuk Hj. Mohd Nor Ahmad Secondary School and Bukit Gambir Primary and Secondary Schools.
Accessibility is one of the key selling points of Mutiara Court as it is placed in the heart of Gelugor. The property is accessible through Jalan Yeap Chor Ee, which connects to Jalan Masjid Negeri and Jalan Sultan Azlan Shah.
Major hubs like Queensbay Mall, Georgetown, Bayan Lepas, a Tesco hypermarket are all within 10 minutes’ drive, as can be said about the Penang Bridge. Public transportation is also available with Rapid Penang buses travelling up and down the main roads around the property.
Mutiara Court may have been around for a while but the location is still one of the major factors when considering this property. The condominium residence may be an ideal home to own and stay in and doubles as a great investment too. Ideally, one might not opt for the third floor as this is a walk-up property, which in the long run, may be a little tiresome.
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Did you know?
Check out the value of surrounding recently completed properties to make the best buying decision.
Property Name | Year of Completion | Ad Selling Price | Ad Rental Price | Avg Transacted Price | Avg Rental Yield (%) |
---|---|---|---|---|---|
Mutiara Court | 1989 |
RM498,000
-
RM650,000
RM 392 psf - RM 561 psf |
RM1,100 - RM1,100 | NIL | 2.15 % |
Raffel Tower | Dec 2015 |
RM899,000
-
RM1,600,000
RM 561 psf - RM 1,000 psf |
RM1,500 - RM1,500 | NIL | 2.64 % |
Raffel Residence 199 | 2015 |
RM1,790,000
-
RM1,950,000
RM 450 psf - RM 541 psf |
RM2,500 - RM2,500 | NIL | 2.09 % |
Centrio Avenue | 2013 |
RM298,000
-
RM360,000
RM 427 psf - RM 529 psf |
RM700 - RM700 | NIL | 3.65 % |
Pulse | Aug 2012 |
RM350,000
-
RM430,000
RM 396 psf - RM 537 psf |
RM900 - RM900 | NIL | 3.77 % |
The Oasis | 2012 |
RM480,000
-
RM730,000
RM 444 psf - RM 657 psf |
RM1,300 - RM1,300 | NIL | 3.37 % |
27 Green Terraces | 2012 | From RM2,388,000 | NIL | NIL | NIL |
Did you know?
Check out the past transacted prices of this neighbourhood to make the best buying decision.
Non-Landed | Landed | Commercial | |
---|---|---|---|
0 - 500 SQ. FT | - | - | - |
500 - 1,000 SQ. FT | - | - | - |
1,000 - 1,500 SQ. FT | RM 489 psf | - | RM 682 psf |
1,500 - 2,500 SQ. FT | RM 451 psf | - | - |
2,500 - 4,000 SQ. FT | - | - | - |
4,000 SQ. FT and above | - | RM 2,580,000 psf | - |
Note:
Down Payment (10%) | RM 51,000 |
Loan Amount ( 90 %) | RM 459,000 |
Tenure Years | 35 Years |
Interest Rate | 4.85% |
Others (Estimation) | RM 10,000 |
Disclaimer
The information shown is indicative and for illustration only. It does not guarantee the accuracy of the calculation and accepts no liability for any inaccuracies or omissions. The above does not constitute an offer of credit nor does it guarantee that the credit facility applied for will be approved. All applications for financing are subject to credit evaluation and approval and it reserves the right to approve or reject such applications without assigning any reason therefore.
All interest rates shown are indicative according to criteria provided by financial service providers and this is an estimated figure only do not constitute a guaranteed figure. Please consult your respective financial provider for the exact interest rate.
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