Ongata Rongai Nairobi (Ongata Rongai, Nairobi, KE - 1234)

KES2,900,000 KES
Cash price @ 2.9m

Nairobi Real Estates Limited

Nairobi Real Estates Limited Nairobi Real Estates Limited 0725884003 (Office) Request More Info

  • Great for Rental Income
  • Type: Residential
  • Style: Apartment
  • Bedrooms: 1
  • Bathrooms: 1
  • Size: 37 sq. m.
  • Lot Type: Rectangular

Description

1 Bedroom Apartment for sale in Ongata Rongai Ngong sub-county - cash 2.9m , Mortgage 3.25m

This development has 1 and 2 Bedrooms Apartments for sale in Ongata Rongai off Magadi Road, Cash option: 1Br @ 2.9m, 2BR @ 4.3m; Mortgage option 1 bedroom units @ Kes 3.25m and 2 bedrooms unit @ 4.8m.

A Low risk, high return Real Estate investment in Kenya off Magadi road in Ongata Rongai. This development will have two blocks of Apartments with 6 units per floor and in between them, there will the swimming pool deck and a children play area.The development has received all the approvals and now in the construction phase and a number of units have already been booked.The First block will complete in August 2017.

The development will have two blocks of 30 units each, a swimming pool, sufficient parking and modern finishes.It will have a total of 20 one bedroom units and 40 two bedroom units.

These Apartments have a very high return as compared to many other real estate Investments with a rental income of Kes 18k per month for one bedroom and Kes 27,000 for two bedrooms. This is projection as of the time of completing the project.

Location
- Located in Ongata Rongai in Ngong sub-county of Kajiado district
- About 300 metres from Magadi road
- About 45 minutes drive to Nairobi
- good and quiet environment


Floor sizes of the Units

2 bedroom units - 58 metres squared, or 625 square feet
1 bedroom units - 37 metres squared, or 400 square feet

Accommodation
- The two bedroom units have master en-suite and have two bedrooms, and two bathrooms
- The property has an open Kitchen, a dining area and a lounge
- adequate parking
- The one bedroom units have one bedroom, bathroom, kitchen, dining area and a lounge

Project Timeline
- county government approvals - completed
- Change of user from single to multiple dwelling - completed
- Construction in progress

Block A - will complete in August 2017
Block B - Will complete in February 2018


Purchase process

- Fill in booking form
- Sign offer letter
- Make initial payment
- Sign sale agreement
- continue to pay monthly installments

On completion
- There will be formation of a management company to own and manage the common areas
- Ownership of a share in the management company
- issuance of sub-leases to the buyers

Purchase options - Either Cash or Financing

Cash Options - 1 bedrooms @ 2.9m, 2 bedrooms at Kes 4.3m

Deposit - 20% on booking
During construction - pay 50% - in equal monthly installments
On completion - 30% balance

Mortgage/financed option - 1 bedrooms @ 3.25m, and 2 bedrooms @ 4.8m

Deposit - 20% on booking
During construction - pay 20%
On completion - pay 60% through mortgage

Properties for sale in Ongata Rongai Ngong Sub-county of Kajiado county, with good rental income. These properties are close to the Magadi road and are good for own living or for renting out. Ongata Rongai is preferred residential place for most of the people who work in Nairobi.

Attachments

Features

Buying Options

  • Trades Considered
P2#232874261
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Information is deemed to be correct but not guaranteed.