Two-bedroom unit at Eon Shenton for sale at $1.98 mil
set for recovery from 2021A two-bedroom unit located at the 30th storey of Eon Shenton, District 2 will soon be available for sale at SRI’s upcoming auction on November 22. The guide price of the property is set at a whopping $1.98 million ($2,242 psf) and it is an owner-owned sale.
Spanning 883 sq ft, the unit is currently leased until April and enjoys excellent ventilation due to its high floor. The property features two bedrooms, one with an en-suite bathroom, a kitchen, a dining/living room, and separate balconies.
The best part about the condo’s location is its close proximity to MRT lines. It is a short walk away from the Tanjong Pagar MRT Station and is right across from the upcoming Prince Edward MRT Station on the Circle Line, which is slated to complete in 2025. Besides that, future residents can conveniently access shopping and amenities such as Icon Village, 100AM Mall and the Tanjong Pagar Plaza Market and Food Centre.
The unit was initially purchased in July 2016 for $1.60 million ($1,818 psf). The owner has declined to reveal the current rent but based on URA sales data of last 12 months, it can be noted that the units at Eon Shenton usually get a rent of between $3.60 psf per month (pm) and $12.60 psf pm on average. That translates to a rental yield of 4.3%.
The mall is adjacent to Tampines Ave 11 Condo Capitaland, making it a popular destination for those living in the area. From the convenience of daily necessities to entertainment options, Tampines 1 has it all. There is even a large supermarket and world-class cinema. With its unbeatable accessibility, this mall stands out amongst its peers.
Further, Eon Shenton was developed by Ropy-Pacific Holdings’ 70 Shenton and consists of 132 units. EdgeProp Singapore’s LandLens tool also reflects that the majority of buyers are Singaporeans (78.9%), followed by Permanent Residents (13.4%) and foreigners (7.7%).
The condo has seen eight transactions this year, with the latest in September when a 689 sq ft two-bedder changed hands for about $1.36 million ($1,973 psf). Units at Eon Shenton registered from the previous 12 months held sales values between $1,705 psf and $2,477 psf, with an average of $2,219 psf.
Given its prime location and nearness to MRT lines, the upcoming two-bedroom unit is expected to be a valuable asset. It offers not only convenience for everyday commuting but also high rental yield and attractive potential resale value.