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2 bedroom apartment in Riruta

Riruta

Apartment

Under Construction

Description

The project is conveniently located in Riruta, 100m away from the Kikuyu / Naivasha Road Junction. It comprises Studio, 1, 2 and 3 - bedroom apartments, designed to provide a unique investment opportunity in affordable housing. Spanning over 7.5 acres and centered around a green park with recreational facilities, it is planned to be Rirutas Only Urban Oasis. For the discerning investor, the project’s strategic location means sustained high occupancy rates, inflation - hedged rental income with yields above 8 % and a projected total overall return of more than 20 % over the medium term. Phase 1 of the project is currently underway, with Tower A on schedule for completion in July 2025, and Tower B in December 2026.

2br

2

70M2

Commencement Date

Project Commencement date: 31 Aug 2023

Completion Date

Expected completion date: 31 Jul 2025

Cash Payment Details

?

Cash Price:

Kshs 7,550,000

Cash Payment Plan:

100 % payment & additional 6.7 % of the sale price as closing cost (Kshs 505,850)

Installment Payment Details

?

Installment Price:

Kshs 7,550,000

Installment Payment Plan:

10 % upon signing of offer letter, 10 % upon signing of sale agreement, balance structured in installments over a period of 2 or 5 years & additional 6.7 % of the sale price as closing cost (Kshs 505,850)

Home Loan Payment Details ?
Home Loan Price:

Kshs 8,305,000

Deposit Percentage(%):

25%

Deposit Amount:

Kshs 2,076,250

5yr Repayment Options:

Kshs 130,816

10yr Repayment Options:

Kshs 80,599

15yr Repayment Options:

Kshs 65,043

Mortgage Payment Plan:

Approx:25 % deposit, 75 % balance paid upon completion by the financier. Home loan processing fees & closing cost at 4.5% of the sale price. Closing cost of the property at 6.7% of the sale price (Kshs 556,435)

Investment Profile
Expected Rent:

Kshs 40,000

Rental Yield(%):

6.36%

Payback Period(years):

16 Years

Service Charge(pm):

Kshs 4,800

Disclaimer:

The monthly home loan repayments are estimates and may vary depending on the financier.

Rental yields are estimates and may vary with time.

Amenities

Kid's Play Area

Swimming pool

Ample parking

Backup generator

Parking

Gym

Club House

Sports facilities

24 hour security

Retail shops

Ample green spaces

Access road (Ndwaru Road)

Other Details
Size Of Land:

7.50 acres

No. of Apartments:

385

No. of Floors:

11

Company

+254 743 466209 / +254 757 488833

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