918/72 Nelson Street, Auckland Central, Auckland

Nestled in the vibrant 'Zest' complex, this 2-bedroom, 1-bathroom apartment with a carpark, is a gem in Auckland's central district. Constructed in 2003 with concrete walls and an iron roof, it boasts an average condition with a north-facing balcony that captures sea views. As a freehold property, it offers a rare investment opportunity with a current rental return, fixed until mid-year. The property's Capital Value (CV) has seen a minimal decrease of 2.5% from $400,000 in 2017 to $390,000 in 2021, while the HouGarden AVM estimates it at $397,500. The latest sale history shows a fluctuation with a sale in 2024 at $352,000, following a previous one in 2016 at $382,000. Within the decile 8 Western Springs College and decile 9 Ponsonby Intermediate zones, this property is perfect for families and students, centrally located near Queen Street, Sky City, and Auckland's universities. The upcoming Skycity Convention Centre across the road adds immense potential to this already attractive property.

With a rental appraisal of $430-$450/week for the apartment and $60/week for the carpark, this is a high-yielding investment in a well-managed complex with an on-site manager and gym facilities. It's a smart buy in a prime location where demand is only increasing, and supply is not being renewed.

Education is a key highlight, with the property being in the zone for Western Springs College, Ponsonby Intermediate, Freemans Bay School, and Auckland Girls' Grammar School, catering to a wide range of educational needs and levels.

Updated on November 13, 2024