4 Mono Place, Mount Wellington, Auckland

Nestled in the serene cul-de-sac of Mono Place, Mount Wellington, Auckland, lies a prime investment opportunity on a freehold title. This residential complex, built in 1966 with mixed materials for both walls and roof, which are in average condition, comprises three large 2-bedroom flats under one title. Each flat offers a floor area of 240 square meters, and the property sits on a sprawling 1095 square meters of level land. With a recent HouGarden AVM valuation of $2,245,000, this property presents a compelling case for investors with a keen eye for capital growth, given the 29.6% increase in Capital Value from $1,775,000 in 2017 to $2,300,000 as of June 2021.

History shows a promising trend with the latest sales recorded in 2008 at $800,000 and in 2007 at $655,000. The property's location within the catchment area of esteemed schools such as Baradene College (Decile 9) and Stanhope Road School (Decile 4) adds to its allure, while One Tree Hill College (Decile 3) is also in proximity, making it an ideal choice for families.

These flats, designed for comfort and convenience, feature modern amenities and generous living spaces that have consistently attracted quality tenants. Investors will find the potential for rental growth in this thriving suburb particularly attractive, especially with the added benefit of easy access to Sylvia Park Shopping Centre, public transport, and the motorway, facilitating straightforward commutes to the Auckland CBD. Don't miss the chance to secure this high-performing asset in a suburb experiencing significant growth and high demand for quality housing.

Updated on August 23, 2024