This brand new condo in the heart of Quezon City is “for sale by owner” at a bargain price of only PHP2.8M (unfinished and net of taxes). Other similar units are currently priced at more than Php4M. Owner is currently based in the south of Metro Manila and does not use this condo.
Please refer to summary of details below:
- Address: Unit 1012, Tower D, Victoria Towers, Timog corner Panay Avenue, Quezon City, Metro Manila
- Unit condition: Bare and unfinished unit. Finishing works like painting, and installation of floor tiles, etc. are needed to become ready for occupancy. Cost for finishing works would be around Php486,000.
- Floor area: 40 sq. m
- Type: Bi-level (This is better than loft-type because its really like having 2 floors where both floors are of the same size. Loft-type will usually have a very small loft.
- Number of Bedrooms: Can accommodate 3 ( open space type in the 2nd floor)
- T&B: 1 unit with sanitary closet installed
- Condo dues: – Approximately Php2,500/mo. – subject to verification
- Parking slot: None included. However, there are available parking slots for sale for resale or from the developer,
- Developer: New San Jose Builders
- Selling price (unfinished): PHP2.8M
- 50% Downpayment + assume balance
Rental rate and return on investment
If you want to use this as a rental property, based on listings in Rentpad.ph, you can get anywhere from Php19,000/mo to Php25,000/mo for 2BR units.
Here’s a link to the listings in Rentpad.ph: https://rentpad.com.ph/places/victoria-towers/bd71dbb76
Estimated Return on investment
Assuming you will purchase this with the option for fully finished by the seller at Php3.3M, and at the lowest rental rate of Php19,000/mo, this will give an estimated annual gross rental yield of 6.91%.
The highest rental rate of Php25,000/mo will have an estimated annual gross rental yield of 9.09%.
Note: Keep in mind that the estimated rental rates above are for fully furnished units.
These are based on results using this tool: Gross Rental Yield Calculator.
Vicinity map and nearest landmarks
Here’s a link to the google map: https://goo.gl/maps/g8a2V6NwRN72
Just some of the things you will find within the condo project, and nearby:
- Located inside adjacent towers:
- Robinsons Supermart
- A lot more!
- Just across the street:
- Wensha Spa Timog
- The Circle Events Place
- Saint Paul the Apostle Parish
- Ha Yuan Restaurant
- Crossfit Infinitas
- The Crossroad center
- Very near:
- Capitol Medical Center
- Fisher Mall
- Saint Mary’s College
Here’s a video walk-through of the unfinished condo unit, which includes:
- View at street-level from outside the building
- View of bare/unfinished unit’s lower level
- View of provision for toilet and bath at lower level
- View of bare/unfinished unit’s upper level
(Sorry for the “grainy” quality and dust flying around, there was no lighting inside the unit and this was the best we can take during our visit).
To get an idea of how this unit will look like when finished, please refer to a video of a model unit below.
Why is the unit unfinished?
Some developers let unit owners do the finishing themselves so they can have their preferred finish/materials/final layout, and the unit owner can buy from the developer at lower price.
If you prefer to have the unit finished, the seller is offering an option to do the finishing for a small addition to the selling price, see below for details.
Seller can do the finishing for you!
Yes, the seller can do the finishing for you for a very small addition in the selling price:
- Selling price (includes finishing and net of taxes): Php3.3M
The higher price includes finishing works like painting, installation of floor and wall tiles, installation of gypsum board ceiling, etc., which are needed to become ready for occupancy.