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Wednesday, January 21, 2009

Investment in worker hostel with high gross return / Iskandar Property / Iskandar Malaysia / Johor Property / Iskandar Malaysia Property

code: Hostel/PG/Wblock

One block of 5-storey walk-up flat close to Pasir Gudang industrial estate, Iskandar Malaysia that is now renting as hostel for workers is for sale. Basically this hostel have 35 units with every unit have 3 bedrooms. Currently it's renting to a establish company with monthly rental income of about RM10,000++ with long term lease.

The land title is 99-years lease with unexpired term of about 82 years.

The asking price is RM1 million (negotiable) with yearly gross return more than 12%.

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