25a Carlton Gore Road, Grafton, Auckland

Boasting a rich history and prime location at 25a Carlton Gore Road, Grafton, this freehold property is a gem in Auckland's real estate market. Constructed in 1920 with wood walls and iron roofing, both in good condition, it spans a level contour across 460 square meters of land, with a floor area of 211 square meters. The property is converted into four charming 2-bedroom flats, each with a sunny conservatory and a bathroom, plus a double garage, amounting to a total of 8 bedrooms and 4 bathrooms. The capital value has seen a rapid increase from $2,000,000 in 2017 to $2,675,000 as of 2021, showcasing a growth of 33.75%. The HouGarden AVM estimates it at $2,562,500, while the latest sale was for $2,700,000 in 2024, a significant jump from the previous sale of $700,000 in 1998.

Educationally, the property is within the highly sought-after Double Grammar Zone, neighboring top-rated schools such as Auckland Grammar with a decile of 9, Newmarket School with a decile of 7, Auckland Normal Intermediate with a decile of 9, and Auckland Girls' Grammar School with a decile of 3. This ensures an unparalleled educational advantage for residents.

Currently tenanted with a rental income of $2,150pw, this property presents an excellent opportunity for investors. Its central location, with easy access to the motorway, and the allure of the Double Grammar Zone, make it a prized investment in Grafton's thriving real estate scene.

Updated on April 10, 2024