28 Simkin Avenue, St Johns, Auckland City, Auckland

28 Simkin Avenue, St Johns, Auckland City, Auckland Investment & Development Potential

Tender: Closes on Friday 3 May 2024 at 4:00PM (unless sold prior)

This Leasehold property is nestled on a spacious 701m² section - it boasts endless potential for savvy investors or homeowners seeking flexibility and future growth.

Ground Lease $25,935 p.a. Current rent is $57,720 p.a.(Unit 1 + Unit 2). Good tenants are happy to stay. Council rates $2,669.48 p.a., water rates approx $1680 p.a., lawns approx $700 p.a., Insurance $2000 p.a. The property comes with a perpetual 21-year rights of renewal. The current lease expires on 8th March 2034.

The property comprises the 3-bedroom upstairs unit with ample natural light streaming through, complemented by the 1.5-bedroom downstairs unit - perfect for additional rental income or multi-generational living arrangements.

The concrete floor separating the two levels offers comfortable living spaces for both occupants.

Situated in a moderately elevated position, soak in the abundance of sunshine and enjoy the serene surroundings.

The regular-shaped section presents an ideal canvas for future development, whether you choose to capitalise on the existing property's rental potential or embark on building your dream home at the rear (conditions apply) while collecting rent from the flats.

Located in the heart of St Johns, zoned for Stonefields School and Selwyn College. For leisurely pursuits, the nearby Remuera Golf Club offers recreational opportunities, Merton Road Tennis Center and Swimming Tastic, while convenient access to the North-South Motorway ensures effortless connectivity to wider Auckland.

Please give me a call for more information.

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