20 Koromiko Street, New Lynn, Auckland - Waitakere

Nestled in the serene cul-de-sac of 20 Koromiko Street, New Lynn, Auckland, this freehold property is a gem on a 1012m2 corner site. It boasts 3 bedrooms, a single carpark, and a floor area of 117m2. Constructed in 1960 with mixed materials for the walls and iron for the roof, this property is in average condition externally, while the roof remains in good shape. The site is pancake flat, facing north with panoramic views down the Whau River to Auckland City, offering immense potential for future development in the Mixed Housing Suburban zone. The current government capital value (CV) stands at $1,750,000 as of June 2021, showing an impressive increase of 80.41% from the $970,000 valuation in July 2017. The HouGarden AVM estimates the property's worth at $1,625,000.

With a CV growth rate that outpaces the market, this property also has a valuable history. It last changed hands in an auction, and it's now being offered for sale for the first time in over 60 years. The property includes a classic early 1900's bungalow, drenched in sunlight throughout the day, and is complemented by a workshop and lock-up garage, making it a potential rental income source while you plan your next move.

When it comes to education, the property falls within the zones of Kelston Intermediate (Decile 2), Kelston Boys' High School (Decile 3), Kelston School (Decile 3), and Kelston Girls' College (Decile 2). It's conveniently located near public transport, parks, LynnMall, and a short drive to the CBD, connected by new motorways. This is not just a property; it's the start of a new chapter.

Updated on May 03, 2024