Nestled on a serene tree-lined street, this impressive 9-bedroom property on 8 Allen Road, Grey Lynn, Auckland, is a rare find. Constructed with wood and iron, this freehold home features two separate flats, each with individual entrances, currently generating an appealing weekly income of $2180. The property boasts a substantial 293 sqm floor area and is set on a steeply contoured 655 sqm section with mature trees, offering potential for further development or transformation into a grand family residence. Notably, the capital value has surged by 31.18% from $2,325,000 in 2017 to $3,050,000 as of 2021, while the HouGarden AVM estimates it at $2,837,500. The property's latest sale history includes transactions in 2012 and 1990, reflecting its consistent growth. With a range of schools nearby, including Pasadena Intermediate and Western Springs College, both decile 8, and Richmond Road School, Ponsonby Intermediate, and Auckland Girls' Grammar School, this property is not only an attractive investment but also a family-friendly haven.
Boasting a fair roof and average walls, this 1970-built home is equipped with a heat pump and offers ample parking and expansive lawns. The upstairs flat features a sizeable open plan living area, sunny kitchen with black granite benches, three double bedrooms, and additional utility rooms. The downstairs flat has a separate living and dining room, kitchen with granite counter, six bedrooms, and private alfresco entertainment areas. Its convenient location, close to public transport and motorways, and within walking distance to Grey Lynn Park and Western Springs, makes this property a golden opportunity in a prestigious postcode.
For families with school-aged children, the property falls within the zones of well-regarded schools, ensuring access to quality education. The combination of a strong capital value growth, a high-income potential, and a sought-after school network makes this property an unparalleled investment in the heart of Auckland.
Updated on June 07, 2024
Address | Distance | Bed | Bath | Floor area | Sold date | Sold | Data source | |
|---|---|---|---|---|---|---|---|---|
 | 0.23 km | 3 | 1 | -m2 | Year 2024 Month 11 Day 21 | - | Council approved | |
 | 0.23 km | 3 | 1 | 142m2 | Year 2024 Month 10 Day 16 | - | Council approved | |
 | 0.19 km | 5 | 2 | 240m2 | Year 2024 Month 09 Day 11 | $3,950,000 | Council approved | |
 | 0.05 km | 3 | 2 | -m2 | Year 2024 Month 08 Day 01 | $2,200,000 | Council approved | |
 | 0.18 km | 2 | 1 | -m2 | Year 2024 Month 07 Day 11 | - | Council approved |