Nestled in the prestigious Parnell suburb of Auckland, this north-facing,1-bedroom unit at 8/11 Balfour Road offers exceptional value. Constructed in 1970 with concrete walls and an iron roof, it boasts an average condition with a floor area of 37sqm. As a cross-lease property, it provides low-maintenance living with total annual outgoings under $4800. The property has seen a significant Capital Value increase of 24.49% from $490,000 in 2017 to $610,000 in 2021. The HouGarden AVM estimates it at $582,500, while the latest sales were at $465,000 in 2024 and $367,000 in 2023. Currently rented at $600 per week, it's a solid investment in a high-demand area, with easy access to amenities and the scenic Tamaki Drive. The school zones include highly-rated Auckland Grammar, Epsom Girls' Grammar, and Parnell School, all decile 9.
Updated on October 16, 2024