5 Hazel Avenue, Mount Roskill, Auckland

Located at 5 Hazel Avenue, Mount Roskill, Auckland - City, this residential property, originally a 1920s weatherboard bungalow converted into rental units, offers a unique investment opportunity. It features 4 bedrooms, a spacious floor area of 180sqm, and sits on a generous 828sqm freehold section. The property includes a large garage capable of accommodating up to 5 cars, boats, or other vehicles, and is in good condition with wood wall construction and an iron roof. The flat, level contour of the land is zoned for Mixed Housing Urban, making it ideal for further development or as a lucrative land banking opportunity.

The property has seen a significant increase in capital value, from $2,100,000 in July 2017 to $2,700,000 in June 2021, marking a 28.57% growth. The latest HouGarden AVM estimates its value at $2,587,500. It last sold in August 1995 for $280,000, highlighting its substantial appreciation over time. This property generates a solid return of approximately $64,000 per annum from its three rental units, making it an attractive option for investors seeking a steady income stream.

Situated in a prime location, the property falls within the school zones of Dominion Road School (decile 3), Mt Roskill Intermediate (decile 4), and Mt Roskill Grammar (decile 4), offering excellent educational opportunities. Its proximity to Dominion Rd shops, restaurants, and transport adds to its appeal for a wide range of buyers, from investors to developers and builders.

Updated on April 04, 2024.