52 Old Mill Road, Grey Lynn, Auckland

This superb freehold property located at 52 Old Mill Road, Grey Lynn, Auckland - City, is a residential rental dwelling converted to flats, featuring an immaculate fully renovated concrete/brick 1920s home and an equally pristine two-bedroom home at the rear. The main three-bedroom residence has been gutted and restored, while the ancillary dwelling lends itself to home-based business, extended family, or casual BNB guest letting to help with mortgage repayments. The property boasts 5 bedrooms, a floor area of 102m², and a land area of 520m². The roof is constructed of iron, and the walls are roughcast, both in mixed condition. The property contour is level, making it an attractive option for families and investors alike.

The capital value of this property has seen a significant increase, from $1,380,000 on July 1, 2017, to $2,150,000 on June 1, 2021, marking a 55.797% growth. The HouGarden AVM estimates the property's value at $2,057,500. It has a recent sale history with transactions on January 24, 2024, for $2,050,000, and on May 11, 2023, for $1,100,000, showcasing its desirability and investment potential.

Located in a prime school zone, this property is zoned for Pasadena Intermediate (decile 8), Westmere School (Auckland) (decile 10), and Western Springs College (decile 8), offering excellent educational opportunities for families. Its proximity to key amenities and the CBD, along with its unique offering of two dwellings on one title, makes it a rare and valuable find.

Updated on April 05, 2024.