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Priced $1,000,000 under CV!
• 1012 sqm of freehold land zoned mixed housing urban.
• Fully tenanted six-unit split risk investment.
• Returning approximately $106,340 pa.
• Up zoning underway to THAB under NPS-UD intensification plan.
Tightly held for more than 40 years, this property has options! Totaling 1012sqm (more or less) of flat land with a good wide road frontage and zoned mixed housing urban. Aucklands intensification plans are underway, 40 West Coast Road has been identified to be rezoned THAB (Terrace Housing and Apartment Buildings), allowing greater height allowances when it comes time to re-develop.
The property comprises six residential units, all currently tenanted and returning an under-market gross income of approximately $106,340 pa.
A centralised location to Glen Eden and Kelston Shopping Centre provides a walking catchment to bus and train services, parks, and amenities. Zoned for popular schools such as Decile 7 Glen Eden Intermediate. 40 West Coast Road has options and opportunities that must be explored.
Viewing by appointment only,
Year | Median price | Growth | Sales count |
|---|---|---|---|
2023 | $1,457,500 | 8.4% | 4 |
2022 | $1,345,000 | -11.1% | 9 |
2021 | $1,512,500 | 23% | 16 |
2020 | $1,230,000 | 43.4% | 8 |
2019 | $858,000 | -4.9% | 9 |
2018 | $902,000 | -5.3% | 5 |
2017 | $952,500 | -9.3% | 16 |
2016 | $1,050,000 | 24.3% | 5 |
2015 | $845,000 | 26.3% | 5 |
2014 | $669,000 | - | 7 |
Address | Distance | Bed | Bath | Floor area | Sold date | Sold | Data source | |
|---|---|---|---|---|---|---|---|---|
 | 0.28 km | 3 | 1 | 0m2 | 2024年04月24日 | $1,282,000 | Council approved | |
 | 0.26 km | 2 | 1 | 60m2 | 2024年02月25日 | $725,000 | Council approved | |
 | 0.11 km | -m2 | 2024年01月19日 | $1,299,000 | Council approved | |||
0.20 km | 3 | 130m2 | 2023年12月07日 | $968,000 | Council approved | |||
0.29 km | 0m2 | 2023年11月13日 | $415,000 | Council approved |