Nestled in a serene cul-de-sac at 18 Monterey Avenue, Otahuhu, Auckland, this freehold property is a gem for investors and families alike. Constructed in 1964 with mixed brick walls and a mixed-material roof, it offers a floor area of 248 sqm on a sprawling 1173 sqm lot. The property, zoned for multiple housing, currently features a main house with spacious living areas and three bedrooms upstairs, a basement for storage, and a separate one-bedroom unit from the 1970s. The capital value has seen a significant increase of 34% from $990,000 in 2017 to $1,325,000 as of June 2021. The HouGarden AVM estimates it at $1,235,000, while the latest sales were at $1,100,000 in 2021 and $1,024,000 in 2017. This property is in the catchment of Otahuhu College (Secondary, Decile 1) and Fairburn School (Contributing, Decile 1), making it an ideal choice for families with educational priorities.
With potential for development and the versatility of a home and income setup, this property presents endless opportunities. Its convenient location, adjacent to the Tamaki Estuary Reserve, provides easy access to the town center and commuting routes, enhancing its appeal. Whether you're looking to create a tranquil haven or invest in a rapidly appreciating asset, this property is a must-consider.
Educationally, the property falls within a highly sought-after school zone. The local schools, Otahuhu College and Fairburn School, are both Decile 1 institutions, ensuring a high standard of education for the family. This, coupled with the property's strategic location and growth potential, makes it a wise investment for both present comfort and future returns.
Updated on June 05, 2024
Year | Median price | Growth | Sales count |
|---|---|---|---|
2023 | $928,118 | -12.5% | 21 |
2022 | $1,061,000 | -5.3% | 14 |
2021 | $1,120,000 | 27.8% | 37 |
2020 | $876,127 | 6% | 21 |
2019 | $826,750 | 0.5% | 14 |
2018 | $823,000 | 9.7% | 27 |
2017 | $750,000 | 5.6% | 29 |
2016 | $710,000 | 10.9% | 23 |
2015 | $640,000 | 20.8% | 31 |
2014 | $530,000 | - | 33 |
Address | Distance | Bed | Bath | Floor area | Sold date | Sold | Data source | |
|---|---|---|---|---|---|---|---|---|
 | 0.24 km | 3 | 2 | 86m2 | Year 2024 Month 05 Day 14 | $765,000 | Council approved | |
 | 0.45 km | 3 | 1 | -m2 | Year 2024 Month 04 Day 30 | $600,000 | Council approved | |
 | 0.12 km | 6 | 3 | 225m2 | Year 2024 Month 04 Day 02 | $1,240,000 | Council approved | |
 | 0.38 km | 3 | 1 | -m2 | Year 2024 Month 01 Day 01 | $837,500 | Council approved | |
 | 0.28 km | 1 | 1 | -m2 | Year 2024 Month 01 Day 01 | $365,000 | Council approved |