261 Mount Albert Road, Wesley, Auckland

Introducing a unique opportunity at 261 Mount Albert Road, Wesley, Auckland - City, this property is a rare find for developers and investors alike. Classified as Residential - Vacant land multiple housing, it features an expansive land area of 809m² with an easy/moderate fall contour, and a floor area of 189m². The property, built in 1920, boasts wood wall construction and an iron roof, both in average condition. Ownership is freehold, ensuring no complications with leasehold terms. Despite having no bedrooms, bathrooms, or car parks listed, the potential for development is immense, highlighted by its mixed urban zoning and convenient connections to sewage and stormwater systems.

The property's capital value has seen a significant increase, from $1,550,000 in July 2017 to $2,000,000 in June 2021, marking a 29.03% growth. The latest HouGarden AVM estimates its value at $1,915,000. It last sold for $520,000 on October 10, 2009, indicating substantial capital appreciation over the years. This growth trajectory underscores the property's investment potential, especially considering its prime location and development possibilities.

Situated within the school zones of Mt Albert Grammar School (Secondary, decile 7), Wesley Primary School (Contributing, decile 1), Wesley Intermediate (Intermediate, decile 1), and Mt Roskill Grammar (Secondary, decile 4), the property offers excellent educational opportunities. Its strategic location near Three Kings Shopping Centre and public transportation enhances its appeal, making it a coveted spot for families and developers alike.

Updated on April 05, 2024.