6 Simkin Avenue, Saint Johns, Auckland

Located at 6 Simkin Avenue, Saint Johns, Auckland - City, this property presents a unique investment opportunity with its 6 bedrooms, 3 bathrooms, and 3 car parks. Spanning a floor area of 203 sqm on a 607 sqm land, the property consists of 3 tidy brick and tile units from the 1960s, each with its own carport, lockup, and additional off-street parking. The leasehold property, built in 1964, features average condition walls and roof, with tiles for roofing and brick for wall construction. The property contour is level, categorised under Residential - Rental flats (purpose built).

The property has seen a capital value increase from $1,675,000 in July 2017 to $2,000,000 in June 2021, marking a 19.40% growth. The HouGarden AVM estimates its value at $1,915,000. Historically, the property was sold for $280,000 in April 2008 and $175,000 in July 2001. Despite the massive price drop and the vendor's readiness to sell at a loss, the property generates over $72,000 per year in rent, offering a significant profit margin after deducting the $15,600 annual ground rent and $6,550 rates.

Zoned for Stonefields School, Baradene College, and Selwyn College, with decile ratings of 9, 9, and 4 respectively, this property is an attractive option for families and investors alike. The schools cater to a range of levels from full primary to secondary education, ensuring quality education options are within reach.

Updated on April 04, 2024.