Satisfied & Happy Owner of Lucky Height Condo

by CKWong

IMG 0901a 300x225 Satisfied & Happy Owner of Lucky Height CondoThis acticles are contributed by owner of Lucky Height.

Some 3 years ago, I was very blessed to secure a unit in Lucky Heights Condominium through my very good banker friend who is more of a property guru. After doing some minor touch-up to the condo, I was ready to be a proud property owner.

Certain places have a special environment that never fails to restore your tired senses after a long day at work. We all have a place that is special to us, whether it is a house that reminds us of someone very close, a place that brings back fond childhood memories, or just to escape from the pressures of citylife.

For me, Lucky Heights is one of these. This condo block that was developed more than 10 years ago by Faber Development may look a little bit worn down from the outside. But it is home to tenants from many different nationalities. There are Australians, New Zealanders, Europeans and Asians staying here. Quietly in the midst of this green retreat are local businessmen, lawyers, doctors and Datuks.

At its simplest, it looks much like an isolated concrete and brick building surrounded by trees. But some of the 42 condo units inside are no conventional home. Some units have been extensively renovated at a cost of between RM50,000 – RM100,000 by their proud owners. It is a wonderful place to stay because there is so much green space.IMG 0878 300x225 Satisfied & Happy Owner of Lucky Height Condo

In the morning, there are birds singing and if you are lucky, you can see monitor lizards and monkeys occasionally. The air is crispy cool and unpolluted because of the green environment and location on top of a hill. You can actually smell the fresh air! And Mt Kinabalu can be clearly seen in the early mornings from the balcony before the cloud cover take over. On hot days, you can have the swimming pool by yourself to cool down.

If you have a habit of waking up early in the morning to do exercise or mediation, you are as close to nature as you can get in the city. There are no noisy lorries honking you to buy cooking gas cylinders – just natural sounds of the ecosystem. The environment is refreshingly soothing and watching the early morning sun rising is a pure joy. There is simply no other place in the city centre that can come so close to nature as Lucky Heights.

Being located at Likas area, it is near to schools and the nearby convenience stores and supermarkets. Sending your children to school is a just a trip down the hill.

Residents who cherish the beauty and tranquility of nature will certainly appreciate this humble place.  It combines the best that nature has to offer in the city without compromising on the modern amenities and services that are within easy reach.

If you can come across a Lucky Heights condo for sale, it is a worthwhile investment considering that even  that terrace houses are in Likas are commanding prices in the RM500,000 range. Lucky Heights is a great place to come home to and it is the perfect entry point to a home in this prime area without breaking your budget.

Happy Investing

You cannot Grow Land..CK Wong & MY DAD

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{ 37 comments… read them below or add one }

Jimmy September 4, 2010 at 6:33 am

bro, good investment and rental yield easily can clinch up to 10% since you bought it cheap!

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Mike September 5, 2010 at 12:57 pm

Sometime, if you are flipping, it might also be good to get new condo units. Since certain segment of subsale buyer would like opt for newness. N of course some might still opt for old condos for value for money. Old ones are best for rental yield I guess. N investing in new is to maximize capital return somewhatif. But if G lower down LVM to 80% , flipping strategy might be a bit risky. But anyway becoming an investor longer term like situ CK is also good strategy. One have to look at one’s riskappetite

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Jimmy September 6, 2010 at 12:54 am

flipping strategy is applicable to certain property segment such as landed properties whereby you can easily earn 10% or more (depending on location) upon issuance of certificate of fitness / occupation certificate. having said so, it is also not unusual for kk property investor to flip new condo /apartement. again, it is very much depending on locality and total no. of units being built by developer, their goodwill, etc. nevertheless, landed properties is still the best strategy for flipping at this moment.

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joe September 7, 2010 at 1:08 am

I see lots of people flipped landed property here. ceriamas, duta gdn, even river park… just to name a few. Flip before the price stabilise.

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chin September 9, 2010 at 3:38 pm

i was a owner of LH some years ago, true that the place is Under value . But what can you do when the property is owned by GLC company is who not in the property business of making money.They are in healthcare disposal business, this is the most undervalue property in likas area, this is the fact . Valuer cant give more than 200k for 1090sf. One of the respected valuer owned a unit in 3rd floor. Rental at RM850 Maintanence at Rm230.00 at least the pool is working and no more algae and (katak) for now. may yu be bless if you owned LH , better just own Beveryly which is good in rental and secondary market. No need to wait for IJM , next door Radiant mansionett is selling at RM 400psf. some of the smart LH residents movved there when they launched Radiant.

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CKWong September 9, 2010 at 9:07 pm

HI,
There is reason why its undervalue. Time will proof our investment decision. Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

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Chong September 10, 2010 at 2:48 pm

how much the rental like for 1090sf @ LH?

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CKWong September 11, 2010 at 2:15 am

Hi,
All Lucky Height Units are at 1050sf. Rental is ranging from RM900-RM1300 depending on furniture and furnishing.
Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

Reply

Chong September 15, 2010 at 2:34 pm

how long it takes to get tenant for LH? i know it’s alot more easier to rent out the unit in Indah court.

Reply

CKWong September 16, 2010 at 7:24 am

HI,
Indah court commanded different selling price and rental. Furthermore Indah court was surrounded by school which save alot of time and money for those who wish to sent their kids within this area. While LH rental market has pickup alot compare to many years ago when I acquired it. Anyway if you are not comfortable with it, then just avoid it. LH only have 48units as compare to Indah Court having more than 200 units. Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

Reply

mike September 16, 2010 at 1:28 pm

how much is LH going in the market now.

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CKWong September 16, 2010 at 8:57 pm

HI,
I have sold my unit last month for RM200K. Brought in profit of 100% over my purchase price. There is not many seller in the market as owner know there is “non” such location at that price nearby. Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

Reply

GK September 17, 2010 at 10:02 am

hi..CK
sold ur LH for rm200? why? how big size?
How much indah court rm/sqft can bank financed?
10Q

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CKWong September 17, 2010 at 8:54 pm

Hi,
All units at LH is at 1050sf with 2 Bedroom. when I sold it was at around RM200psf which I think its still cheap. the potential of growth is still there. If I’m not moving towards commercial properties I wont sell. Lucky enough as I still left a unit there for future potential. Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

Reply

GK September 18, 2010 at 4:16 pm

hi..CK
How much indah court rm/sqft can bank financed?10Q

mike September 17, 2010 at 12:22 pm

CK,

Congrats, truly good profit!

Reply

Jimmy September 18, 2010 at 4:11 am

It’s time to divert your investment portfolio into commercial properties (if possible). the yield might not be so handsomely rewarded in short term. nevertheless there is big potential for future appreciation, depending on your location that you wanted to invest, particularly in lintas, damai and penampang area.

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CKWong September 18, 2010 at 8:45 pm

HI,
Commercial normally will command higher investment, of course venturing into it is one of the best compare to residential. Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

Reply

Chong September 19, 2010 at 2:23 pm

Hi CK,
What’s the market price for LH as there is 1 unit at L2 asking for 230k. I’m thinking for 230k, LH is better than Indah court as 1 is condo and the later is walk up apartment, different class i would say. My agent told me there is 1 unit sold at 230k couple months ago. Do you think the price is too high or 200k (like yours) is reasonable? i’m new in property investment.

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CKWong September 19, 2010 at 9:21 pm

HI,
I believe LH will continue to hit all time high from now on. RM230K is cheap if you compare to all new surrounding development in Likas. Now Along Menggatal and Tuaran bypass already commanding RM300psf. So make you wise decision. Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

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Alvin October 29, 2010 at 6:45 am

Hi CK,

Have always been interested in LH…..any unit up in the market now?

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CKWong October 30, 2010 at 9:00 pm

HI,
There is a unit advertise by CH William asking for RM230K. Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

Reply

Andy November 1, 2010 at 3:02 pm

Hi CK,

Do you think RM230k is a worth buy? as some agent said it’s not easy to rent out and some units are vacant for year. Thanks.

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CKWong November 1, 2010 at 5:50 pm

HI,
Lucky Height occupancy has improve alot compare to few years ago. Why not done your own site visit at night? Rather than listen to agent?Friends, agent dont take care and take full responsibility of your pocket. You run your own life!! Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

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Tillerleong November 18, 2010 at 12:11 am

Hi CKWong, I m new here. Is it the lucky height is still available now? I interesting on it. May u send me the seller detail so that I can contact him/her? Billion thanks.

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CKWong November 18, 2010 at 12:03 pm

Hi,
Email me your contact number at ckwongproperty@gmail.com Happy Investing.

You cannot Grow Land..CK Wong & MY RiCH DAD

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Ryuken November 18, 2010 at 3:55 pm

Hi Tiller Leong,
Glad to see you here. I frequent some of the sites you visit.
Regarding the condo, have you check it out yet. I have check it out last week.

Let me know what you think. You can contact me at
beebuu2@yahoo.com

Reply

TillerLeong November 20, 2010 at 3:47 am

Thanks CKWong SIFU and Ryuken SIFU, i replied email d. i interest to buy lucky height condo, can intro to owner to meet for discuss?which valuer valued more in kk? i just know 1 valuer company only, i will try ask for the market price to know the margin amount i can get loan.

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Joshua January 14, 2011 at 3:19 pm

HI CK. I agree with you on LH condo. Nice place. can you recommend a unit that is for sale ? Pls let me know when you want to sell the unit you have left. Who knows you may want to invest in commercial properties in Kingfisher.
I have a quesition about LH. How come there is no title even after so long being built. Any problem with developer?
If a developer goes bankrupt, and the land title is not sub divided yet. How will the condo owners be affected? No title for them ? since the there is no one to transfer the property from the developer to the owners? That would be very serious for us the buyers. Or would the government take over and transfer the title to owner? Pls advise as I am new in this business.

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CKWong January 14, 2011 at 8:54 pm

Hi,
The developer is Faber Group Bhd-Main board listed and one of the most profitable govt link company. I dont think it will fail. Happy Investing.

You cannot Grow Land..CK Wong & MY RiCH DAD

Reply

Jimmy January 15, 2011 at 1:38 pm

it will fetch RM300 psf soon !

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Chong September 2, 2011 at 8:17 am

I was reading Faber’s annual report, in their future project list i saw Lucky Height II – Kota Kinabalu (2012-2016). I rented out my LH unit at 1K (unfurnished).

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CKWong September 2, 2011 at 8:02 pm

HI,
That good. In fact when I start buying LH it was in mid 2005 which at that time they also say so. I even saw the plan. But its good to have LH…There is Non such development anymore in KK. Sad to say I have dispose all my unit there last year..Happy Investing

You cannot Grow Land..CK Wong & MY RiCH DAD

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chong September 7, 2011 at 2:28 pm

in fact my neighbor sold his unit at 250k last 2 months… i think the price is getting higher…

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kayenne September 20, 2011 at 8:58 am

Hi CK,

I was looking at properties in the Likas area and came across your site. Do you know of any Lucky Heights units for sale and what the price range is? Thanks

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Tommy September 21, 2011 at 1:58 am

Lucky Heights is in a prime location – uncrowded and with lot of greenery, fresh air, up on a hill and near to city and schools/shops etc. There are no other similar locationm in Likas or even KK.There was one unit advertised at RM295K recently but not sure if the deal was done. Even then, it is less than RM300/sq ft and this is the cheapest entry price for a home in Likas area. The new condos that are coming up around this area are priced between RM500-RM700 or more per sq ft. So it is a good buy if you can find one at LH. One thing I learn – you cannot wait in the property game for the price to come down. Because it never will as the construction materials and labor costs keep going up. If you think the price is expensive – this is akin to waiting for the price to come down. The fact is there is no cheap sale in the property market. If you like the location and the property, you just pay the price for it. If you wait, somebody will come along and grab it and you will regret for not buying it.

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CKWong September 18, 2010 at 8:42 pm

Hi,
Latest highest transaction was at RM217K. So I think valuer wont mind valued it at RM200K. Happy Investing.

You cannot Grow Land..CK Wong & MY DAD

Reply

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