423/85 Customs Street, Auckland Central, Auckland

Nestled at 423/85 Customs Street, Auckland Central, this residential apartment boasts a convenient location in the city's vibrant tourist precinct. The studio unit, with 1 bedroom and 1 bathroom, features a roughcast exterior and an iron roof, both in good condition, typical of the 1990s construction. It sits on a level contour and offers a floor area of 38 square meters. The property is held under a Unit Title and presents a passive investment opportunity with an annualised income of $12,783.30 plus GST, renewable every six months. Notably, the latest government valuation (CV) as of June 2021 is $420,000, marking a 5% increase since July 2017.

With a HouGarden AVM of $422,500 and a historical sale price of $195,000 in December 2000, this property is not only an attractive investment but also holds potential for capital growth. The property falls within the catchment area of several esteemed schools, including Western Springs College (Decile 8) for secondary education, Ponsonby Intermediate (Decile 9), Freemans Bay School (Decile 6), and Auckland Girls' Grammar School (Decile 3), making it an ideal choice for families.

For those seeking an easy investment with a stable income stream and the added bonus of being in a prime school zone, this studio hotel apartment is a golden opportunity.

Updated on September 30, 2024