Seri Kota is an apartment located in the heart of Penang in Georgetown. It is a well maintained piece of freehold property that was built by an unknown developer. Its completion date is also un-noted, so the age of the apartment is unknown; however it looks reasonably well maintained. At Seri Kota, there are approximately 12 units to a floor, housed within 1 block of apartment of 12 storeys, with a total of 144 units. It is selling for an average price of RM400,000; a rather steep price due to its location. The size per unit is suitable for a small to moderate family at approximately 850 sf with 3 bedrooms and 2 bathrooms. There are limited units for sale at this seemingly highly desired Seri Kota apartment, with only one or two units being released for sale. Units at Seri Kota that are being released have mostly got minor renovations done on them especially with the kitchen tabletops and kitchen hoods and hobs. Units that are partially furnished are the ones that usually come with light and fan fixtures. It is also to be noted that all units have a balcony from where residents can enjoy views of the city line.Seri Kota has only its location to boast about as they are totally lacking in facilities. They do not even have 24-hour security to boast about making security here a concern. They do however have a parking bay where residents are allocated 1 parking lot to a unit. Units that have more than one car would have to resort to parking along the roadside of the apartment.Although Seri Kota is completely lacking in facilities it is still highly desirable due to its location which places residents close to several schools such as the Penang Japanese School which is within walking distance of the apartment, the SJK Tong Sian and SJK Convent Dato' Keramat. Within walking distance is a stadium, eateries, mini marts, a church and within 10 minutes of driving is the Penang Times Square. The Loh Guan Lye Specialist Centre and the Penang General Hospital are the closest major hospitals to the apartment.Residents will be well connected via Jalan Dato' Keramat to Jalan Macalister, Jalan Anson and the heart of Georgetown at only 2 minutes driving time. With the mainland a mere 15 minutes drive away, the whole of Penang is truly easily accessible for residents of Seri Kota. The closest bus stop is approximately 15 minutes away by foot and has many busses that pass by; namely the Rapid Penang 11, 102, 201, 202, 203, 204, 502 and 304.
Property Details
Name: Seri Kota Address Georgetown, Penang Type: Apartment Tenure: Freehold No. of Blocks: 1 No. of Storey: 12 No. of Units: 144 No. of Bedrooms: 3 No. of Bathrooms: 2 Built-up: 850 sf Subsale Price: Facilities
Parking bayAnalysis
Seri Kota is situated in an area that is certain for residents to face traffic congestion. However as they are set a mere 1.4 km from the Magazine Circus, traffic congestion is only to be expected. Traffic at Jalan Samak is generally low, but Jalan Dato' Keramat is purported to face heavy traffic throughout the day. Seri Kota is an apartment that is in high demand in spite of its lack of amenities. Rooms for rent within the apartment can be found, but whole units for rent are almost unheard of. In the recent years prices for this apartment was approximately RM250,000, but recently demand is high enough that residents there have started asking for RM450,000 per unit.As an investment Seri Kota is almost sure to pull its own weight for the price that it is being asked for, and prices for this apartment is almost certain to increase as the years go by due to its location within the heart of Georgetown itself. Living in this apartment certainly has its advantages especially if the tenant works in the city, however permanent residents might not be too amused at the turnover in occupancy as many of the units here are rented out by the room instead of the unit.
