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Easily. There are plenty of them available in your price range in the Lai Chi Kok area, and the buildings are no more than 3 years old or so. They'll be in the 600-700 sq. ft. range.
It will be a 14 minute ride on the MTR to Olympic, but it would probably be a much more direct route if you took a bus.
Check out Aqua Marine, Liberte, Pacifica and Banyen Gardens. I would have rented one of these myself, but I prefer the easter Kowloon area over this area.
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