Nestled at 11 Princes Street, Otahuhu, Auckland, this Freehold property is a gem in the commercial accommodation sector. It boasts 46 bedrooms, 6 carparks, and a spacious floor area of 1287 square meters on a land of 675 square meters. Constructed in 2002 with mixed materials for both the walls and roof, it presents an average condition throughout. The property has seen a significant Capital Value (CV) increase from $2,650,000 in 2017 to $3,475,000 as of June 2021, marking a growth of 31.13%. The HouGarden AVM estimates the property's worth at $3,390,000, while the latest sales history shows transactions at $900,000 in 2010 and $2,400,000 in 2006. This is a secure investment with potential for future redevelopment, currently returning approximately $260,000 net per annum and boasting a 100% occupancy rate.
As for the government's valuation, the property has appreciated in value, reflecting a promising investment prospect. The Otahuhu College in the area is a Secondary school with a decile rating of 1, indicating a strong educational institution within the zone.
With a sitting manager committed for the past 12 years and the prospect of a double-digit yield, this high-yielding, recession-proof cash cow is an opportunity not to be missed.
Updated on August 20, 2024
adresse | distance | nombre de chambres | nombre de salles de bain | superficie du bâtiment | date de vente | prix de vente | source de données | |
|---|---|---|---|---|---|---|---|---|
 | 0.27 km | 20 | 10 | 0m2 | 2024 12 12 | - | Council approved | |
 | 0.37 km | 3 | 1 | 170m2 | 2024 11 05 | - | Council approved | |
 | 0.34 km | 4 | 2 | 150m2 | 2024 09 24 | $1,055,000 | Council approved | |
 | 0.20 km | 6 | 6 | -m2 | 2024 09 01 | $1,500,000 | Council approved | |
 | 0.36 km | 3 | 1 | -m2 | 2024 09 01 | $750,000 | Council approved |