1212/76 Wakefield Street, Auckland Central, Auckland

Nestled on the 12th floor of the prestigious Sapphire Apartments in the heart of Auckland's University Precinct, this 23m2 studio with a clever layout is a Unit Title property that exudes potential. The concrete walls and Iron roof, both in good condition, shelter the 1-bedroom, 1-bathroom unit that's perfect for investors or students. With a CV of $240,000 as of June 2021, it has seen a decrease of 14.29% from its $280,000 valuation in July 2017. The property's HouGarden AVM stands at $260,000, reflecting its market worth. The latest sales were recorded at $195,000 on June 12, 2024, and $293,000 on July 26, 2019, showcasing the dynamic market. Currently rented for $330 per week, it offers a stable income with high rental demand.

Location is key, with zoning for Auckland Grammar, a decile 9 secondary school, and easy access to the University of Auckland and AUT. The area is also home to Ponsonby Intermediate and Freemans Bay School, both high decile institutions. Queen Street amenities and Event cinemas are mere steps away, enhancing the convenience of this city pad. With low outgoings, including a Body Corporate levy of $1907.46 and Auckland Council Rates at $1019.49 per annum, it's an investment that makes financial sense.

Whether as a lucrative investment, a home for university-goers, or a low-maintenance city base, this property holds appeal. The opportunity to add value and a motivated overseas vendor make it a priority to inspect for any discerning investor.

Updated on July 11, 2024