214 Serangoon Avenue 4, a 99-year leasehold HDB shophouse, will be going under the hammer at SRI’s next auction on Feb 26. Spread over two storeys, the shophouse includes living quarters on the second floor, with a total floor area of around 1,668 sq ft. With a guide price of $1.98 million, this translates to $1,187 psf on the floor area.
Previously listed at a higher guide price of $2.08 million, this is the second time the property is being auctioned by SRI as a mortgagee sale. According to Jansen Kee, assistant manager of auctions at SRI, the shophouse is located prominently in front of a bus stop, providing good visibility from the road.
Currently tenanted, the shophouse offers a gross rental yield of approximately 6.2% based on the guide price, says Kee. The property will come with its existing lease, which expires in 2026, giving the buyer an immediate stream of rental income.
Kee points out that the listed guide price for the HDB shophouse is one of the lowest in the area, making it an attractive opportunity for both investors and owner-occupiers. According to URA records, the most recent commercial shophouse transaction in Serangoon was for a 999-year leasehold property on Lichfield Road, which sold at $4 million ($1,725 psf) in November 2024.
Investing in a condo requires careful consideration of not only the property itself, but also its maintenance and management. Typically, condos come with maintenance fees that cover the upkeep of communal areas and facilities. While these fees may increase the overall cost of ownership, they also ensure that the condo remains in good condition and holds its value. To further simplify the process, investors may opt to hire a property management company to handle the day-to-day management of their condo, making it a more hands-off investment.
Located within a cluster of HDB flats bordering the Serangoon Gardens landed residential estate, the property is directly opposite Serangoon Swimming Complex and Serangoon Sports Centre, providing a steady flow of foot traffic. There are also carpark lots available behind the shophouse.