In the afternoon of Saigon, a breeze swept through Kieu Dam street, I stopped by a newly built property. It wasn't a flashy townhouse, nor a luxury apartment with river views, but a 5-story serviced apartment building, looking quite neat.
To be honest, I've seen quite a few income-generating properties, but what's good about this building is that it doesn't try to "sell" you a dream. It's simply an income-generating asset, well-built and operating efficiently.
Basic Specifications
- Land area: 477 m2
- Built-up area: 2245 m2
- Structure: 1 basement + 1 ground floor + 4 floors + rooftop (staircase cover)
- Elevators: 2
- Staircases: 1 + emergency staircase
Functionality and Current Status
The ground floor is arranged with a reception area and waiting lobby, quite spacious. From the 1st to the 4th floor, there are 28 rooms, divided into different sizes: 16 rooms of 38m2, 4 rooms of 32m2, 4 rooms of 48m2, and 4 studios of 56m2. This distribution is quite reasonable, meeting the needs of many customer segments.
The rooftop is currently open, with a staircase cover. The investor can utilize it to create a rooftop cafe, or even build another 8 studios. Honestly, if a rooftop is created, the value will increase significantly.
The building is 100% new, fully completed. High-quality finishing materials, standard design and fire safety documents. This is a big plus, as many other projects often cut corners to reduce costs.
Cash Flow and Operational Capability
Currently, the building has a lease agreement with a total value of 400 million VND/month. But if self-managed, according to my calculations, it can easily reach over 550 million VND/month. This number is quite attractive, especially in the context of low bank interest rates.
The important thing is that this cash flow comes from stable rentals, not from "flipping" or risky business activities. Buy it and hold it, receive money every month, isn't that the dream of many investors?
Location and Potential
Kieu Dam area, Tan Hung Ward, District 7 is a developing area, with many surrounding amenities such as schools, hospitals, and supermarkets. Convenient for commuting, convenient for picking up and dropping off children. This is a big advantage, attracting a stable customer base.
However, it's also important to note that many new projects are emerging in this area. Therefore, regular upgrades and renovations of the building are necessary to maintain competitiveness.
Overall Assessment
At a price of 115 billion VND (negotiable), this is an asset worth considering. The ROI (return on investment) is quite good, the cash flow is stable, and the location is convenient. If you are a professional investor looking for a sustainable income-generating asset, this may be a suitable choice.
