3/86 Portage Road, New Lynn, Auckland - Waitakere

Welcome to 3/86 Portage Road, New Lynn, Auckland - a prime example of affordable investment in the heart of New Lynn. This unit, nestled in a middle block of five, offers two bedrooms, one bathroom, and a dedicated covered car park. The property boasts a spacious north-facing lounge that flows seamlessly into a generously sized courtyard, perfect for entertaining. Constructed in 1960 with fibrous cement walls and an iron roof, both in average condition, this unit spans 73 square meters on a level contour with a Unit Title ownership.

From a financial perspective, the capital value of this property has seen a significant increase, from $460,000 in July 2017 to $560,000 in June 2021, marking a 21.74% growth. The latest HouGarden AVM estimates the value at $547,500. Historical sales data reveals a sale for $199,000 in October 2009 and $225,000 in December 2007. This property is not just an affordable entry point for first-time buyers but also a lucrative opportunity for investors, with a rental appraisal between $500-550 per week as of June 2023.

Education is well catered for, with the property zoned for several schools including Blockhouse Bay Intermediate (decile 5), Chaucer School (decile 4), Green Bay High School (decile 8), and Lynfield College (decile 6). This location is unbeatable, with easy access to public transport and essential amenities, making it an ideal choice for families and professionals alike.

Updated on March 22, 2024.