161 Dominion Road, Red Hill, Auckland - Papakura

Nestled in the heart of Red Hill, Auckland - Papakura, this standalone freehold property at 161 Dominion Road offers a rare opportunity in an affordable price bracket. Constructed in 1990 with aluminium walls and roofing in good condition, the property spans a level 4,016m² site with a 1,200m² floor area, and is designed to cater to multiple tenancy income streams. The site's dual access and excellent exposure on Dominion Road enhance its functionality, while the building's division into 25 tenancies provides flexibility and low risk for potential investors. Notably, the property has seen a significant increase in Capital Value, rising from $1,575,000 in 2017 to $2,175,000 as of 2021, indicating a growth rate of 38.10%. The latest sale in 2024 fetched an impressive $3,050,000, showcasing the property's investment potential. Furthermore, the HouGarden AVM estimates the property's worth at $2,120,000, aligning closely with market valuations. This property falls within the catchment area of several schools, including Edmund Hillary School, Papakura Intermediate, Papakura High School, and Redhill School, all of which are rated in decile 1, ensuring quality education for the family.

With potential for significant rental growth and the added benefit of excess land for future development, this property is an attractive prospect for owner-occupiers, investors, or those seeking to add value. It's a truly unique investment in the price bracket, offering a split risk opportunity with various upsides.

Educationally, the property is well-served by the local school network, ensuring access to quality education for children of all ages.

Updated on August 07, 2024