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BELOW $1 MILLION: 999-year leasehold condo in district 10

By Tan Chee Yuen

/ The Edge Property |

December 2, 2015 3:20 PM SGT

A 635 sq ft unit at The Sierra is listed on TheEdgeProperty.com at an asking price of $850,000 or $1,339 psf. According to the marketing agent, Rebekah Yee from ACTS Realty, the low-floor unit is currently tenanted and in good condition.

The Sierra is a 999-year leasehold development located at 80 Mount Sinai Drive. Completed in 1999, the property comprises 60 units. School within 1km include the renowned Henry Park Primary School.

There were 10 rental contracts, involving similar-sized units. Rents for these units averaged $2,560 per month. Based on the asking price of $850,000, it translates into a potential gross rental yield of 3.6%.

The latest comparable transaction was in September 2012 when a 667 sq ft unit sold for $920,000 or $1,379 psf.

Looking for affordable homes in prime districts? Click here to start browsing!

Editor: To real estate agents – if you have secured an interesting listing or concluded an interesting deal recently, we would love to hear from you! Contact us at propertyeditor.sg@bizedge.com

As we are not party to the contract between the client and agent, we are not able to verify information provided by the agent.

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