Nestled in the vibrant Birkenhead suburb, at 9/27 Mokoia Road, lies this charming residential property, a purpose-built rental flat complex. Constructed in 1910 with wood walls and an iron roof, this Unit Title property offers 3 spacious one-bedroom flats, each exceeding 60sqm, ideal for professionals and small families. With 3 carparks, an average wall and roof condition, and a property contour that provides an easy to moderate fall, it stands as an attractive investment opportunity. The current Capital Value (CV) of $1,175,000 reflects a significant increase of 21.13% from the 2017 CV of $970,000. The HouGarden AVM estimates the property at $1,125,000, while the latest sales in 2014 and 2012 were $615,000 and $555,000 respectively, indicating a promising growth trend.
From an investment perspective, this property boasts a potential 6.3% NET yield, making it an appealing alternative to traditional banking investments. The strategic location allows for convenient access to Auckland CBD and the nearby Takapuna Beach. The property benefits from being in the catchment area of Northcote Intermediate School (Decile 6), Northcote College (Decile 7), and Birkenhead School (Decile 9), ensuring a high demand for rental properties. With a consistent tenant base and rental income of $1,420 per week, this property not only promises satisfaction but also substantial financial gains.
Given the rising house prices and rental increases in the North Shore, securing this property now could save you over $300,000 compared to just two years ago. It's a prime cashflow investment opportunity that's not to be missed. This is the perfect moment to make a sound investment that offers both lifestyle and financial benefits.
Updated on April 26, 2024
Year | Median price | Growth | Sales count |
|---|---|---|---|
2023 | $930,000 | -11.4% | 4 |
2022 | $1,050,000 | 0.5% | 7 |
2021 | $1,045,000 | 37.5% | 14 |
2020 | $760,000 | -20% | 7 |
2019 | $950,000 | 16.9% | 5 |
2018 | $812,500 | 3.2% | 10 |
2017 | $787,500 | 7.9% | 12 |
2016 | $730,000 | 19.7% | 8 |
2015 | $610,000 | 5.2% | 9 |
2014 | $580,000 | - | 13 |
Address | Distance | Bed | Bath | Floor area | Sold date | Sold | Data source | |
|---|---|---|---|---|---|---|---|---|
 | 0.24 km | 2 | 2 | -m2 | 2024年03月20日 | $1,350,000 | Council approved | |
 | 0.18 km | 2 | 1 | 75m2 | 2024年02月26日 | $499,000 | Council approved | |
0.18 km | 2 | 1 | 75m2 | 2024年02月07日 | $499,000 | Council approved | ||
 | 0.10 km | 3 | 113m2 | 2024年01月16日 | $700,000 | Council approved | ||
| 0.10 km | 4 | 195m2 | 2023年12月12日 | $1,200,000 | Council approved |