Nestled on a freehold section at 24 Nikau Road, Otahuhu, Auckland, this 1929 character bungalow with wooden walls and tiled roof offers a spacious floor area of 131sqm on a land of 701sqm. The property, suitable for extended families or those seeking flatmates, developers, or land bankers, features 4 bedrooms, an updated bathroom, and a modern kitchen dining that flows out to a large private deck. Notably, the capital value has surged by 100% from $750,000 in 2017 to $1,500,000 as of June 2021. The HouGarden AVM estimates it at $1,460,000, while the latest sale was for $1,755,000 in October 2021. Moreover, the property is in the Otahuhu College zone, a secondary school with a decile rating of 1.
With a CV increase that speaks volumes about its investment potential, this property also boasts a rental yield that is currently $765 per week. It's a gem for those working from home, with a convenient location less than 1km from Otahuhu train station, and a short drive to Sylvia Park and Otahuhu township. The THAB zoning and regular-shaped section present ample development opportunities, making it a versatile option to live, lease, or develop.
Educationally endowed, the property falls within the catchment of Otahuhu College, ensuring quality secondary education for residents. This is a home that not only promises comfort and convenience but also holds the key to future appreciation in a prime location.
Updated on August 01, 2024
Address | Distance | Bed | Bath | Floor area | Sold date | Sold | Data source | |
|---|---|---|---|---|---|---|---|---|
 | 0.39 km | -m2 | Year 2024 Month 10 Day 14 | $399,000 | Council approved | |||
 | 0.37 km | 3 | 2 | -m2 | Year 2024 Month 08 Day 01 | $895,000 | Council approved | |
 | 0.38 km | 3 | 1 | 90m2 | Year 2024 Month 07 Day 10 | $570,000 | Council approved | |
 | 0.38 km | 2 | 1 | 92m2 | Year 2024 Month 07 Day 09 | - | Council approved | |
 | 0.38 km | 2 | 1 | 92m2 | Year 2024 Month 06 Day 24 | $429,500 | Council approved |