81 Lake Road, Frankton, Hamilton

Nestled on a spacious 1,130m2 section in a serene cul-de-sac at 81 Lake Road, Frankton, Hamilton, this Freehold property is a goldmine of potential. Comprising 18 well-appointed bedrooms, with an impressive floor area of 550m2, the building boasts concrete walls and an Iron roof, both in average condition, constructed in the year 1970. The property, purpose-built as rental flats, is segregated into two blocks - one with 6 x 2 bedrooms and the other with 2 x 1 and 2 x 2 bedrooms, all under one title. The capital value has seen a remarkable increase of 60.34% from $1,790,000 in 2018 to $2,870,000 as of 2021, with a HouGarden AVM estimate of $2,750,000. The latest sale was recorded in 2002 at $475,000. Currently generating an annual return of $187,720, with rent increases on the horizon, this property is not just an investment but a promise of significant returns.

When it comes to the government's valuation, the numbers speak for themselves. The property has been on a steady rise, reflecting the area's growing desirability. For families with school-going children, the property falls within the zones of Hamilton Boys' High School (Decile 7) and Hamilton Girls' High School (Decile 6) for secondary education, and Whitiora School (Decile 3) and Hamilton West School (Decile 5) for full primary education, ensuring access to quality education.

With a new roof installed in 2018 and improvements to meet Healthy Homes standards, this property is not just a sound investment but also a step towards a comfortable lifestyle. Its convenient location, with easy access to Hamilton CBD and the Frankton Shopping Centre, adds further value to an already attractive package.

Updated on October 14, 2024