Levenue
Overview & Key Facts
Levenue is a compact 43-unit freehold boutique development occupying a quiet slice of Lengkong Empat on the Kembangan–Bedok fringe of District 14. Completed in 2016 by Macly Pte Ltd — a developer with a steady track record of small-plot freehold projects across the East — the 12-storey block is built around a focused shoebox mix, with typical unit sizes clustered between roughly 460 and 495 sqft. That sizing, combined with the freehold title and a sub-$800K entry ticket, has produced one of the more interesting yield-and-tenure combinations in the OCR freehold landscape: 8 sales averaging S$815,736 over the recent window and an exceptionally active 78 rental transactions that generate an average gross yield of 4.25%.
The project’s positioning is specific and honest. Levenue is not pitched as a lifestyle flagship or a school-catchment play — it is a pure investor vehicle on a freehold title, backed by a residential side-street address that feeds an unusually deep rental pool. Three MRT stations sit within a 0.83–0.90 km radius (Bedok North DTL, Kembangan EWL, Kaki Bukit DTL), industrial parks at Ubi and Kaki Bukit sit within 1–2 km, and Changi Business Park and the airport are a short drive east. That combination is precisely why 78 tenants currently call this 43-unit building home — a tenant-to-unit ratio that speaks for itself about leasing demand.
The ShiokNest composite score of 31/100 tells the other side of the story honestly. The walkability score of 25/100 is genuinely low — Lengkong Empat is a residential cul-de-sac-style road without ground-floor retail, cafes, or F&B within a 3–5 minute walk. The 43-unit scale limits facilities to the essentials (pool, gym, BBQ). The 12m avg PSF of S$1,671 sits substantially below newer 99-year leasehold neighbours — Parc Esta at S$2,182 psf, Penrose at S$1,928 psf, Antares at S$1,833 psf — which is where the freehold vs leasehold arbitrage thesis becomes concrete. For the right buyer — a yield-focused investor or a shoebox landlord with a long holding horizon — Levenue is a quietly rational proposition.
Location & Connectivity
Lengkong Empat is a residential side-street tucked between Bedok Road and Jalan Daud, a slice of District 14 that reads more like a mature HDB-and-landed neighbourhood than the more commercialised corridors of Eunos or Paya Lebar. The address is deliberately low-key — no frontage on a main arterial, no heavy traffic, no late-night F&B strip — which is both the development’s charm and its primary walkability constraint.
The MRT position is genuinely strong for a 43-unit boutique. Bedok North MRT (DT29, Downtown Line) sits 0.83 km away, Kembangan MRT (EW6, East West Line) is 0.86 km, and Kaki Bukit MRT (DT28, Downtown Line) is 0.90 km — three stations across two lines within a 10–12 minute walk. That dual-line access is unusual at this price point: EWL delivers direct connections to Tanah Merah interchange (four stops to Changi Airport, onward to Expo and Downtown CBD via the EWL trunk), while the DTL provides single-line access to the Bugis–Promenade–Downtown CBD spine. For a tenant working at Changi Business Park, Paya Lebar, Ubi, or the Downtown core, the commute economics here are competitive.
For drivers, the Pan Island Expressway (PIE) is accessible within a few minutes via Jalan Eunos or Bedok North Road, and the East Coast Parkway is a 5–7 minute drive. Changi Airport is a 12–15 minute drive during off-peak hours. The drive-to-amenity model matters here: Bedok Mall, Parkway Parade, and Tampines Mall are all within a 10–12 minute drive, meaning residents who drive have access to a very deep retail catchment even though the immediate walking radius is modest.
Schools & Education
| School | Type | Distance |
|---|---|---|
| Temasek Junior College | jc | ~1.7 km |
| Temasek Primary School | primary | ~1.8 km |
| Telok Kurau Primary School | primary | ~1.8 km |
| Canossa Catholic Primary School | primary | ~1.9 km |
Facilities
At 43 units across 12 storeys, Levenue’s facilities deck is — by design — focused rather than expansive. The development provides a swimming pool, a pool deck with water jet corner, a gymnasium, a spa bed corner, BBQ pits, outdoor seating and dining zones, a multi-purpose deck, covered car park, and 24-hour security. That is an appropriate facilities package for a boutique 43-unit block: generous enough to tick the essential investor-rental checklist (pool photo, gym photo, BBQ photo in the listing), but honestly proportioned for the building’s footprint.
In practical use, the 43-unit scale means facilities are almost never crowded. The lap pool is compact but rarely contested; the gym is functional for a resident who does not need squat-rack specialisation; the BBQ pits see light use. Residents with higher lifestyle expectations — tennis court, multiple pool configurations, concierge, resort-scale clubhouse — should look at larger leasehold neighbours like Parc Esta (1,399 units) or Penrose (566 units), where the trade-off is a significantly higher psf and, critically, a 99-year lease.
“Cosy condo with friendly neighbours. Facilities and pool are well maintained. Highly recommended for investment or own stay.”
— Resident review, 99.co
The key facility consideration for shoebox investors is simple: at ~470 sqft, unit interiors are compact, which makes shared facilities more relevant to tenant lifestyle than in a larger 1,100 sqft unit where the home itself carries the recreation load. Levenue’s pool-gym-BBQ combination is exactly the facility set a young professional or expat tenant in a 1-bedder typically uses — which is one of the reasons the 78-tenant rental pool stays resilient. The absence of a tennis court, function room, or children’s playground is not a material negative for this tenant profile.
Unit Sizes & Layout
Levenue is a shoebox-dominant development. Based on transaction records, typical floor areas cluster between roughly 462 and 495 sqft (43–46 sqm), consistent with a 1-bedroom or compact 1+study configuration. At the current 12-month average of S$1,671 psf and a median transacted price of S$790,000, the implied unit size works out to approximately 470 sqft — firmly in the investor-grade shoebox tier that became a defining feature of the 2011–2015 development vintage in Singapore.
This sizing is the critical context for every subsequent judgement about the building. Levenue is not a family home — at 470 sqft, the unit typology is structurally an investor vehicle, a young-professional starter home, or a pied-à-terre. The 78 active rental transactions versus 43 total units confirms the market has priced the building correctly for this use: effectively the entire stack is either owner-occupied by a single professional or tenant-let, with meaningful turnover. For a buyer evaluating the unit layout specifically, the key questions are practical — how efficient is the floor plate, is there a balcony or is space protected from the planning deduction, how does the kitchen work in a sub-500 sqft footprint, and is there a genuine separate bedroom or is the layout a studio-and-partition.
2016-vintage interiors are in broadly serviceable condition — flooring, kitchen, bathroom, and aircon systems are approximately 10 years old at writing, meaning buyers should budget for selective refurbishment (aircon servicing or replacement, a bathroom refresh, possible kitchen countertop and cabinetry refresh) if they intend to command the top end of the rental band. The freehold title makes these improvements a sound investment — every dollar spent on refurbishment on a freehold shoebox retains value indefinitely, whereas the same spend on a 99-year leasehold shoebox is eroded by time-value compounding.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 0 BR | 7 | $1,643 | $787,984 |
| 3 BR | 1 | $1,043 | $1,010,000 |
Pricing & Market Position
Based on 8 recorded transactions, sale prices range from $758,000 to $1,010,000, averaging $815,736 (~$1,671 psf).
Rents range from $1,700 to $4,000 per month across 78 rental transactions. Current rental yield sits at approximately 4.3%.
Price Appreciation
From 2022 to 2025, the average PSF has appreciated by 28.7% (from $1,299 to $1,671 psf).
Neighbourhood Comparison
Levenue occupies a distinct niche in the District 14 and broader East freehold landscape. Its closest comparison set is not other freehold boutiques — it is the much larger, much newer 99-year leasehold developments that surround it and define the area’s current headline pricing. The comparison is instructive precisely because the tenure divergence is so stark.
Parc Esta (1,399 units, 99-year leasehold, TOP 2018, Eunos MRT) trades at S$2,182 psf — a 31% premium over Levenue’s S$1,671. Parc Esta offers resort-scale facilities, direct Eunos MRT proximity, and a newer interior spec, but it is a 99-year lease from 2014, meaning buyers in 2026 are acquiring roughly 87 years of remaining tenure, which will continue to depreciate. Over a 15–20 year holding period, the freehold vs leasehold value divergence compounds materially. Penrose (566 units, 99-year, TOP 2019) at S$1,928 psf and Antares (265 units, 99-year, TOP 2018) at S$1,833 psf follow similar logic: larger, newer, more amenity-rich, but leasehold — and priced 10–15% above Levenue’s freehold basis.
Euhabitat (480 units, 99-year, TOP 2010) at S$1,326 psf is the one comparable that prices below Levenue, but its 2010 TOP means it is already 16 years into its 99-year lease with an older facilities spec and an older interior footprint. Sims Urban Oasis (1,024 units, 99-year, TOP 2014) at S$1,760 psf is a closer match on vintage but again on a 99-year lease from the 2011–2014 era, with lease-depreciation arithmetic working against it.
The comparison set delivers a clean conclusion: Levenue offers a freehold title at a materially lower entry ticket than its 99-year neighbours, with a yield profile that is meaningfully stronger (4.25% gross vs typical 2.5–3.5% at the larger leasehold peers). What it sacrifices is facilities breadth, walkability, and headline-new-launch spec polish. For a buyer whose decision framework weights freehold tenure, yield, and entry price above facilities count and walkability, the logic of Levenue over its leasehold neighbours is quantitative, not aesthetic. The lease-adjusted value model is worth running carefully before choosing between these alternatives.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| LEVENUE | Freehold | 2016 | 43 | $1,671 |
| PARC ESTA | 99 yrs lease commencing from 2018 | 2021 | 1,399 | $2,182 |
| SIMS URBAN OASIS | 99 yrs lease commencing from 2014 | 2020 | 1,024 | $1,760 |
| PENROSE | 99 yrs lease commencing from 2019 | 2021 | 566 | $1,928 |
| EUHABITAT | 99 yrs lease commencing from 2010 | 2016 | 697 | $1,326 |
| THE ANTARES | 99 yrs lease commencing from 2018 | 2021 | 265 | $1,833 |
ShiokNest Scores
Our proprietary scoring system evaluates LEVENUE across multiple dimensions.
What Residents Say
“Have been staying at Levenue for years. Cosy condo with friendly neighbours. Facilities and pool are well maintained. Highly recommended for investment or own stay.”
— Resident review via 99.co
“The MRT access is the main thing — three stations within a 10-minute walk across two lines means I can reach Changi Business Park, the CBD, or the airport easily. The street itself is very quiet, which I actually prefer after years of living on a main road. The trade-off is you need to take a short walk or a bus for coffee shops and groceries.”
— Resident commentary via Homejourney
“Bought this as an investment unit. The rental market is genuinely strong — I’ve had back-to-back tenants with very short vacancy windows. The freehold title was the reason I chose this over a newer 99-year block nearby; the numbers work better over a 10-year hold once you model the lease depreciation.”
— Investor commentary via EdgeProp
The consistent thread across resident and investor accounts is the binary trade-off: residents and tenants accept the low walkability in exchange for a quiet residential street, genuine MRT access across two lines, and — for owners — a freehold title backing a high-yield shoebox. Those who stayed several years consistently cite the cosy-community feel of a 43-unit block (neighbours recognise each other, management communication is direct) and the reliable rental demand. The most frequent friction point noted is groceries and F&B logistics — the NTUC and coffee shop cluster at Bedok North Interchange or along Jalan Daud is a short walk or drive rather than a doorstep amenity.
Strengths & Weaknesses
- Freehold tenure at S$1,671 psf vs 99-year leasehold neighbours at S$1,833–$2,182 psf — structural tenure discount
- Exceptional 4.25% gross yield — top-decile performance for D14 OCR private residential
- 78 active rental transactions against 43 total units — extraordinarily deep rental demand confirms tenant-magnet status
- Sub-$800K entry ticket on a freehold title — one of the most affordable freehold shoebox buckets in the OCR
- Three MRT stations within 0.83–0.90 km across TWO lines (DTL and EWL) — genuine dual-line rail access
- Quiet residential side-street address — tenant-appealing peace-and-quiet without main-road traffic noise
- Close to Changi Business Park, Ubi industrial zone, Paya Lebar Central and the airport — broad employment catchment
- PSF trend confirms steady appreciation: $1,299 → $1,632 → $1,668 → $1,671
- 43-unit boutique scale — facilities rarely crowded; friendly low-density community feel
- Developer Macly Pte Ltd — known for compact freehold blocks across the East with consistent build quality
- Walkability score 25/100 — honest low-walkability flag; no ground-floor retail or F&B within a 5-minute walk
- Shoebox-only inventory (~470 sqft) — structurally unsuitable for families or buyers seeking larger living spaces
- Only 8 sales in the tracked window — thin secondary market liquidity can constrain pricing flexibility on exit
- En-bloc score 34/100 — compact 43-unit freehold plot is unlikely collective-sale material for the foreseeable future
- ShiokNest composite score 31/100 — reflects the narrow buyer profile and neighbourhood amenity trade-offs
- Boutique facilities only (pool, gym, BBQ) — no tennis court, clubhouse, or resort-scale amenity package
- 2016 vintage — major M&E, pool re-tiling, and external repaint cycles approaching within 5–7 years
- Low investment score relative to new launches for short-horizon capital gain buyers — this is an income play, not a flip
Verdict
Levenue is a narrowly-defined but genuinely rational proposition for a specific buyer: the yield-focused freehold investor with a long holding horizon and a tolerance for a lower walkability and boutique-facilities profile. The numbers make the case directly. At a 12-month avg PSF of S$1,671 freehold, Levenue sits approximately 23% below Parc Esta (S$2,182 psf, 99-year, 2018), 13% below Penrose (S$1,928 psf, 99-year, 2019), 9% below Antares (S$1,833 psf, 99-year, 2018), and well below even Sims Urban Oasis at S$1,760 psf (99-year, 2014). Every one of those competitors is leasehold; Levenue is freehold. The 4.25% gross yield — computed from a median rent of S$2,800 against median sales of S$790,000 — sits in the top decile of private residential yields in the D14 OCR segment.
The 78 active rental transactions against a 43-unit inventory is the single most revealing data point in the building’s file. It confirms that the sub-$3K rental price point in a quiet, MRT-adjacent freehold shoebox finds tenants reliably — young professionals, expats on moderate packages, airport and CBP workers, and HDB-upgrader couples saving for a larger purchase. The URA zoning of Lengkong Empat as residential is stable, with no major redevelopment pressure on the immediate block, which supports long-term rental income stability.
The weaknesses are real and must be weighted against the investment case. The walkability score of 25/100 is a genuine friction for owner-occupiers who value a walkable lifestyle — there is no Joo Chiat-style F&B strip within 5 minutes on foot. The en-bloc score of 34/100 is low: at 43 units on a compact freehold plot, the collective sale mechanics are challenging, and buyers should not underwrite an en-bloc exit as part of their return calculation. The investment score of 61/100 is reasonable but not exceptional, reflecting the thin sales liquidity (only 8 sales in the tracked window) — a re-sale within a short horizon may require pricing flexibility. The 2016 vintage means sinking fund contributions for the first major external repaint, pool re-tiling, and M&E overhaul should be factored into ownership costs over the next 5–7 years.
For the right buyer — someone looking at a 7–15 year income-focused freehold hold, comfortable with a quieter residential street, and willing to trade walkability for tenure premium — Levenue is one of the more coherent sub-$800K freehold shoebox options currently in the OCR inventory.