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aussiekangaroo

[SOLD] La Guardia Flats 2 unit for sale only 1.85M

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For sale I have a studio type condo at La Guardia Flats 2 that was completed in 2013 for sale at only 1,850,000 net of fees and is fully furnished. The unit is on the 12th floor out of 15 but there is no 4th or 13th floor.

There will be no capital gains tax on the unit as it's still financed in house with the developer being Primary Homes so the total cost to transfer will be approximately 80,000PHP only. The unit is into it's 4th year but is well managed and still looks quite new. There are lots of great reviews on Airbnb for the building.

The unit is currently rented out to a nice international student who keeps the unit very clean and has been there a year already and just renewed for a year last month however if your wanting to buy the unit for personal use you will need to give the tenant 2 months notice to vacate.  The rental yield is outstanding at approx 9% and is still low compared to other units as she was offered a lower rate since direct and yearly contract.

The unit is very easy to rent out as there are always lots of enquiries when listed or agents trying to bang down the door with there clients haha. I currently have 3 units in the same building but just looking to sell one at present due to some financial reasons.

The unit is in a great location just beside I.T park and an easy 5 minutes walk. The unit is also facing I.T park and very economical being around half the price of new condo's inside I.T Park. Other owners try to ask 2M plus however I am just looking for a quick sale.

You may also take over payments in Primary Homes at 9.25% with around 700k owing if you wanted finance for some of the price.

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Edited by Paul
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Wow this is a good deal (not sure how much they sold for originally). I've stayed in LF 2 for a month on Air BnB and was very pleased. It's pretty close to IT Park as well.

Is the takeover from Priority Homes a real and official procedure ? This is something they normally do, an the fee is P80,000?

How much is the current renter paying ?

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23 hours ago, TheWhiteKnight said:

Wow this is a good deal (not sure how much they sold for originally). I've stayed in LF 2 for a month on Air BnB and was very pleased. It's pretty close to IT Park as well.

Is the takeover from Priority Homes a real and official procedure ? This is something they normally do, an the fee is P80,000?

How much is the current renter paying ?

The price is around the same as the preselling 4 years ago, I've only had this particular unit for around a year and bought it from an OFW in Australia and did the same procedure.

 

There are around 3 fee's all amounting to around 80k I think the tax was around 40-50k and transfer name fee in Primary Homes was 20k and I can't recall what the other amount was for at present. Because the title is still with developer until fully paid there are just a few tax' s to change but no CGT. Have sent you a PM regarding rental rate.

 

For anyone else wanting to enquire please send me a PM directly for faster responses and to save Paul having to approve each enquiry.

Edited by aussiekangaroo

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How many square meters is condo? Did I miss that?

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10 hours ago, billy said:

How many square meters is condo? Did I miss that?

The unit is 22sq.m.

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This building does it have one and two beds also?or only studios?

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Re the current tenancy . How much is the rent and is there a lease- or is it on a month to month basis?

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3 hours ago, Davaoeno said:

Re the current tenancy . How much is the rent and is there a lease- or is it on a month to month basis?

The current rent is 14k, Mostly they go for 15-16k especially on the higher floors like this unit but as a direct tenant and in 2nd year of contract and is a great tenant and keeps the place clean I give it to her for a lower price. There is a contract in place until I think April next year will need to double check the contract for exact month.

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