642 Mount Wellington Highway, Mount Wellington, Auckland

Nestled in the heart of Mount Wellington, this charming 3-bedroom, 1-bathroom residential property with a floor area of 170 square meters and a vast land area of 920 square meters, boasts a freehold title. Constructed in 1916 with wood walls and an iron roof, both in average condition, this home is situated on a level contour at 642 Mount Wellington Highway. It's a prime site, zoned for Apartments & Terrace Houses, with an approved resource consent for 21 studio apartments. The property has seen a Capital Value (CV) increase of 100% from $910,000 in July 2017 to $1,820,000 as of June 2021. The HouGarden AVM estimates the property's worth at $1,832,500, while the latest sale history shows a significant jump from $290,000 in 2002 to $1,050,000 in 2016.

With a CV growth rate that speaks volumes about its investment potential, this property is a golden opportunity for developers and investors. It's located in a high-traffic area with immediate development prospects and future growth potential. Moreover, being in the decile 1 Otahuhu College zone adds to the appeal, making it an attractive option for families.

Don't miss the chance to bid on this premier site. Auction date is set for September 18, 2024. Register by September 15, 2024, to secure your chance to unlock the potential of this property. Open homes are scheduled on weekends, 11:00 AM to 11:30 AM. Act now, as this property will be sold on auction night if not prior.

Updated on September 19, 2024