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Positioned within the coveted, residential living sector, 69 McKenzie Road comprises 72 studio apartments, across eight separately titled apartment blocks, each block offering nine units with shared communal facilities.
Constructed in 2015, the asset presents as a proven operational asset, having been tenanted for approximately 10 years. It is situated in an established residential suburb, proximate to employment hubs, amenities, and transport links.
The asset is subject to a new agreement to lease to an established social housing provider across the full development for an initial 10-year term, which will progressively transition over time and upon eventual full occupancy by the incoming tenant, the property will generate approximately $1,190,000 in net annual income.
The living and build to rent sector benefits from supportive demographic trends, including increased demand for rental properties. Opportunities to enter the Auckland residential living sector at scale seldomly present.
69 McKenzie Road, Mangere Bridge is offered for sale by way of a Tender campaign, closing Thursday 13 March 2025 at 4:00pm NZST (will not be sold prior).