2/19 Edwin Street, Mount Eden, Auckland

Nestled in the heart of Mount Eden, Auckland, this mixed-use investment opportunity is a rare gem, boasting a rapidly expanding solar business as its sole tenant. Constructed in 1999 with concrete walls and an iron roof, both in good condition, the property at 2/19 Edwin Street is a quiet cul-de-sac that offers a 590m2 building. It features a two-floor office area at the front and a functional industrial warehouse at the back, complete with on-grade roller door access. As a Unit Title property, it includes a generous 8 carparks and is minutes away from the CBD and motorway access. Notably, the upcoming CRL and Mt Eden station will enhance the property's value. The government's capital value (CV) has seen a slight decrease from $2,875,000 in 2017 to $2,800,000 as of 2021, yet the HouGarden AVM estimates it at $2,675,000. The latest sales were $2,850,000 in 2024 and $2,750,000 in 2020, indicating a stable market. For investors, a five-year lease with Lightforce, a business with over 80 staff, guarantees an annual net rental of $190,000 + GST. Education-wise, the property falls within the zones of Auckland Grammar (Decile 9), Newmarket School (Decile 7), Auckland Normal Intermediate (Decile 9), and Auckland Girls' Grammar School (Decile 3), making it an attractive prospect for families.

Updated on July 11, 2024