Sri Ivory Apartment is a high-density apartment residence located in Farlim, Penang. The single-block complex towers at 25 storeys high, housing a whopping 600 units. Completed in 2004, the apartment displays signs of wear from being battered by the weather.
All units in the leasehold Sri Ivory Apartment are sized at 700 sf with a standard layout of 3 bedrooms and 2 bathrooms. Just snug to fit a small family of 3 to 4 members. Prices of units for sale on the market begin from RM228,000, which could be much higher than its initial price. Rental is also quite high compared to other lower density apartment complexes or even older condominiums in other nearby towns, at RM700 per month.
Sri Ivory Apartment as it would appear, was established to provide affordable and liveable housing geared for those in the middle income sector. There are a few facilities offered to residents, such as a basketball court, community hall, children’s playground, and even a landscaped garden. Apart from that, there is also a multi-storey covered parking lot for residents to utilise. The property also has a guarded entrance.
Though there is a commercial shop office right in front of Sri Ivory Apartment, there are not many amenities around it, with only an eatery or two and a sundry shop, as well as a gym operating within. More conveniences will take about a 5-minute walk down Lengkok Angsana where the property is situated, to some shop lots across the Thean Teik Highway. A Giant hypermarket and the All Seasons Place commercial plus a residential development is also located further up the Thean Teik Highway, a little over 5 minutes’ drive from Sri Ivory Apartment.
There are no schools within walking distance of Sri Ivory Apartment, with the nearest ones being in the Greenlane area, such as SMK Georgetown, SK Batu Lanchang, SMJK Chung Hwa Confucian, Convent Greenlane, SMK Haji Zainul Abidin, and SK Jalan Hamilton all within 10 minutes’ drive of the property. Others a little further away include the Penang Free School, SMJK Heng Ee, SRJK (C) Sum Sum and more in the Jelutong area. The nearest hospital is the Lam Wah Ee Hospital, also about a 10-minute drive from the residence.
Located just off the Thean Teik Highway, Sri Ivory Apartment enjoys accessibility to the Georgetown city centre as well as the town of Air Itam. The Thean Teik Highway also links to Jalan Paya Terubong, which can lead to the Bayan Baru area. Other major roads nearby include Jalan Thean Teik, Lorong Batu Lanchang, Jalan Air Itam and Jalan Masjid Negeri. Jalan Masjid Negeri can then lead to Jalan Sultan Azlan Shah and the Tun Dr. Lim Chong Eu Expressway.
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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 (%) |
|---|---|---|---|---|---|
| Sri Ivory Apartment | 2004 |
RM220,000
-
RM280,000
RM 314 psf - RM 400 psf |
RM750 - RM750 | NIL | 3.82 % |
| Shineville Park | 2014 |
RM480,000
-
RM1,300,000
RM 217 psf - RM 823 psf |
RM750 - RM750 | NIL | 1.65 % |
| 98 Greenlane | 2014 |
RM1,248,000
-
RM2,200,000
RM 333 psf - RM 594 psf |
RM2,000 - RM2,000 | NIL | 1.39 % |
| All Seasons Park | June 2013 |
RM428,000
-
RM1,250,000
RM 429 psf - RM 934 psf |
RM1,000 - RM1,000 | NIL | 2.79 % |
| Melody Homes | Dec 2012 |
RM289,000
-
RM430,000
RM 412 psf - RM 614 psf |
RM850 - RM850 | NIL | 3.59 % |
| Boulevard Condominium | 2011 |
RM480,000
-
RM730,000
RM 512 psf - RM 715 psf |
RM1,200 - RM1,200 | NIL | 3.07 % |
| Delima Palace | Mar 2010 |
RM1,050,000
-
RM1,600,000
RM 403 psf - RM 615 psf |
RM3,000 - RM3,000 | NIL | 2.62 % |
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 | RM 563 psf | RM 244,500 psf | - |
| 1,000 - 1,500 SQ. FT | RM 524 psf | - | RM 515 psf |
| 1,500 - 2,500 SQ. FT | RM 340 psf | RM 600,000 psf | - |
| 2,500 - 4,000 SQ. FT | - | RM 986,667 psf | - |
| 4,000 SQ. FT and above | - | - | - |
Note:
| Down Payment (10%) | RM 22,800 |
| Loan Amount ( 90 %) | RM 205,200 |
| 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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