8 Dinglebank Road, Mount Wellington, Auckland

Nestled in the serene cul-de-sac of 8 Dinglebank Road, Mount Wellington, Auckland, this freehold property is a gem in the residential rental market. Constructed in 1966 with solid brick walls and an iron roof, it stands proud with an average condition, both inside and out. Comprising of 3 units, each with 2 bedrooms, this property offers a total of 6 bedrooms and 3 carparks, spread over a floor area of 190 square meters on a spacious 1201 square meter section. The property's capital value has seen a rapid increase of 28.36% from $1,675,000 in 2017 to $2,150,000 as of June 2021, echoing the investment potential. The HouGarden AVM estimates the property's worth at $2,097,500, while the latest sale in 2002 was for $370,000, indicating a significant appreciation over the years.

For investors with an eye on the future, the property's location within the Mixed Housing Suburban zoning holds promise for development. The current annual rental yield of $72,800 is a testament to its earning potential, with scope for more. Adding to its allure, the property falls within the catchment area of esteemed schools such as Baradene College (Decile 9), Stanhope Road School (Decile 4), and One Tree Hill College (Decile 3), making it an attractive prospect for families.

With a prime location that offers easy access to amenities, motorway connections, and public transport, this property is not just a sound investment but also a home that has been cherished by long-standing tenants for over three decades. This is a rare opportunity that calls for immediate action, so seize the day and secure this blue-chip investment block.

Updated on August 20, 2024