Source review: 26 October 2026. Operation handed over in October 2026 according to the owner. Availability and equipment condition require current confirmation.
A furnished apartment building at 1/12 Hưng Hóa
1/12 Hưng Hóa, Tân Hòa Ward, Ho Chi Minh City (formerly Ward 6, Tân Bình District). The owner’s sales dossier describes a corner building adjoining two roads, with frontages of approximately 22 m and 3.6 m.
| Item | Record |
|---|---|
| Land area on certificate | 198.7 m² |
| Owner-measured area | Approximately 205 m²; not confirmed by cadastral measurement |
| Building documentation | 2015 building permit; completion formalities not yet completed, per sales dossier |
| Commercial and shared areas | 1 kiosk, 1 parking area, corridors, stairs and technical areas |
Spaces & room layout
| Level | Units | Use |
|---|---|---|
| Ground floor | 101–107 · 7 apartments | 105: 3 bedrooms; 106–107: 2 bedrooms. Room 101 is separate from the kiosk. |
| First floor | 201–210 · 10 apartments | Studio units in the room schedule. |
| Second floor | 301–310 · 10 apartments | Studio units in the room schedule. |
| Shared / commercial | 1 kiosk + 1 parking area | Kiosk ancillary room only within the actual handover scope. |
Equipment for daily living & building operation
The contract appendix lists the following equipment categories. Counts, serial numbers and condition fields remain blank; this is a documented inventory scope, not a completed inspection.
| Group | Listed equipment |
|---|---|
| Cooling & laundry | Air conditioner, refrigerator and private washing machine. |
| Storage & kitchen | Integrated wardrobe, kitchen cabinets / stone counter and sink. |
| Bathroom | Stone-top basin, illuminated mirror, water heater, toilet and shower fittings. |
| Access & finishes | Fingerprint door lock, aluminium/glass assemblies, lights, switches, sockets and room circuit breaker. |
Room-specific exceptions: management workbook 4.1, last modified 30 September 2026, notes no washing machine in 304 and no refrigerator in 310. Confirm replacements or additions before promising a complete equipment package.
| System | Listed quantity | Scope |
|---|---|---|
| Three-phase electricity | 1 building-wide system | Main meter, distribution board, breakers and wiring per handover. |
| Internet & load balancing | 1 shared system | Technical enclosure and load-balancing equipment. |
| Security cameras | 22 cameras | 12 internal common-area cameras + 10 external cameras; recorder and storage. |
| Shared dryers | 3 machines | One each on ground, first and second floors. |
| Fire-safety equipment | Inventory subject to verification | Listed within handover scope; no certification or compliance conclusion is established by this page. |
Appendix reference values: Internet system VND 10m; cameras VND 15m; dryers VND 4.5m each. These are contractual reference values, not verified purchase costs or a total project investment.
Master lease & financial context
The supplied version 3.3 describes a 7-year conditional master lease. Signature dates and several handover fields are blank; this file alone does not verify execution, bank approval or completed inventory acceptance. The actual start date follows the effective handover arrangements.
| Lease year | VND million / month | Adjustment |
|---|---|---|
| 1–2 | 150 | Unchanged |
| 3 | 163.5 | +9% |
| 4–7 | 176.58 | +8% from year 3; then fixed |
The contract states a VND 600m performance deposit, equivalent to four months of initial rent. This is a contractual obligation, not evidence of full payment or revenue. Detailed settlement and executed documents are reviewed privately.
| Measure | What the source says |
|---|---|
| Master rent | VND 150m/month initially; before applicable costs, taxes and settlement adjustments. |
| Operating revenue | About VND 205m/month reported in the owner’s sales dossier; not independently reconciled to a current monthly collection statement. |
| Net profit / distributable cash | Not established. Requires actual receipts, operating costs, taxes, maintenance and prepaid-rent/deposit liabilities. |
The construction-spend workbook includes transfers, advances and items requiring allocation. Its raw total is not presented as reconciled project capital. This project is distinct from the Núi Thành transfer model and the six-project partnership illustration.
Status: project-level due diligence pending
Investment basis & due diligence
Separate operating evidence, modelling assumptions and documents still to be reviewed. Supporting records are shared after review and redaction; requesting them does not commit you to invest.
One project · evidence before funding
Capital allocation
VND 350m is an illustrative budget for a proposed new project, not the historical cost of either reference building. Request a dated breakdown of landlord deposit, fit-out, equipment, fees and working reserve, with quotes and payment milestones. Allocation awaits project-specific evidence.
Operating evidence
Review real project photos, room-level leases, rent earned, receipts and expenses for the same period. Reconcile prepaid rent to the months it covers and record refundable tenant deposits as liabilities. A billed total is not collected cash or net profit.
Payback and responsibilities
The 15–17-month project target is an assumption, not investor payback. At a 50% distribution share, equivalent investor payback is 30–34 months before delays under constant cash flow. Count landlord deposit recovery only when received; review vacancy, cost overruns, tax, reserve and exit terms.
Six projects · a separate portfolio review
Six independent files
VND 2.1bn = six illustrative VND 350m budgets; it does not establish six secured properties or repeatable returns. Review each lease, permitted use, fit-out budget, rental assumptions and fire-safety records separately.
Staged funding proposal
Agree milestones for each release: property and documents reviewed, budget approved and operating readiness checked. Set evidence required before the next project, a reserve floor and who approves overruns. These controls remain proposals for written agreement.
Cash calendar and governance
Model staggered opening dates and periods with some units unlet, rather than multiplying one good month by six. Separate investor and operator distributions, losses and further funding; document signing authority, reporting, related-party transactions and exit rights.
For any structure in which Vinh is both landlord and co-investor, use a separate agreement identifying each role, deposit flows and related-party approvals. It is not the standard six-project illustration.
Available public references
- Nui Thanh: photos & source notes
- Hung Hoa: photos & source notes
- Nui Thanh: provisional operating snapshot
- External research evidence (Vietnamese)
These references do not validate a new project’s profit, legal eligibility or safety. The research feed is external context, not property-level verification. Detailed evidence is subject to availability and reconciliation.
Request due diligence records ↗Source documents & next steps
| Source | Scope of review |
|---|---|
| Hợp đồng thuê khoán Hưng Hóa 7 năm 3.3 | Room scope, equipment and lease schedule; signature / handover fields remain incomplete. |
| Hồ sơ Sale Hưng Hóa 1.2.xlsm · 23/10/2026 | Property profile and owner-reported financial figures. |
| HƯNG HÓA | Hồ sơ giới thiệu dự án · 23/10/2026 | Cross-check of property and completion-status disclosures. |
| Quản Lý Tiền Phòng Hưng Hóa 4.1.xlsx · 30/09/2026 | Room allocation and equipment exceptions; historical data, not live availability. |
| Chi Tiêu Xây Nhà Hưng Hóa.xlsx · 24/07/2026 | Construction payments; allocation and duplicate checks needed before publishing capital totals. |
| Giấy Tờ Pháp Lý Nhà Hưng Hóa | Folder located with certificate PDF, land-record lookup and scans; not a completed legal review. |
Private source files contain identity, tenancy and payment data. A redacted dossier and a property visit can be requested below. Any ownership transfer, continuation of the lease or investment arrangement requires separate agreement and document review.