19 Drake Street, Howick, Auckland - Manukau

Nestled on a spacious 1,209m2 section at 19 Drake Street, Howick, Auckland, this freehold property is a gem for investors and builders alike. Constructed in 1950 with brick walls and tiled roofing, the property currently features average condition walls and roof, with 2 car parks and a level contour. The site has obtained resource consent for the construction of 9 unique one-bedroom studios, each ranging from 37m2 to 41m2, designed to provide a feeling of spaciousness with vaulted ceilings. The capital value has seen a significant increase of 58.25% from $1,485,000 in 2017 to $2,350,000 as of 2021. The HouGarden AVM estimates the property's worth at $2,255,000, while the latest sale in 2019 was at $1,675,000. This property is zoned for top-rated schools, including Star of the Sea School (Decile 9) and Howick College (Decile 8), ensuring a quality education for the family.

With a promising CV growth history and a prime location, this property presents a lucrative opportunity for those looking to secure a solid investment with potential for long-term rental income. The design of the studios is both clever and maintenance-friendly, with estimated rental yields ranging from $450.00 to $500.00 per week. The property is available for tender, with all plans and details accessible to interested purchasers.

Educationally, the property falls within the catchment area of several esteemed institutions. In addition to Star of the Sea School and Howick College, Sancta Maria College (Decile 7) and Howick Intermediate (Decile 4) are also within reach. This makes the property an ideal choice for families with children of all ages.

Updated on April 19, 2024