Type of apartment I'm looking for?

My target property is serviced apartment priced under market value. Is there any around?

My target market is young families that need a conducive environment for their children

Accessibility of the property to highways and MRT should be within xxxx km (TBD)

Yesterday I called an owner who advertised in Mudah, selling his property at 85k. The property which is either a low cost or medium cost flat/apartment located at Seksyen7. I do familiar with the area and I knew exactly when he described it on the phone. Everything seems good on the phone, he was a nice guy and said he is selling as need to use the money (pressure to sell, +1). The only drawback is the unit is on the 5th floor.

At first I thought to have a look on Saturday. Around 5pm, I was thinking 'since I'm not picking up Jasmin from school and I assume the traffic is not that busy today, why don't I go to Seksyen 7 after work?!' Since I know the way, I straight went to Seksyen 7 after 6pm and also to Sepakat Indah to look around.

Before seeing the area, here are my thoughts:

The price is below 100k, current rental rate is RM430 and instalment is RM390 (4.5%)   +1
It's near to where I live. Shops, school, highway are nearby    +1
Currently tenanted     +1
Cash to fork out is within my range = 10k deposit + 5k everything else  +1

This is actually Block 4 of Sri Anggerik (image by Mitula)

After seeing the area (although I couldn't actually find Block 5):

5th floor seems too high
Do I really want to own this type of property?
Will the property attract my target market?

I wasn't as enthusiastic as before.....

This morning, I found a newly advertised apartment at Laman Suria, Kajang Utama at RM180k. The descriptions fit my criteria: serviced apartment. More like a property that I want to own (note: this is before seeing the actual location & unit). Not sure about the rental rate, need to do more research....


Laman Suria (image by Mitula)