51 Jane Cowie Avenue, Otahuhu, Auckland

Nestled on a generous 776m2 section at 51 Jane Cowie Avenue, Otahuhu, Auckland, this freehold property boasts 4 bedrooms, 2 bathrooms, and a floor area of 130m2. Constructed in 1966 with wood walls and an iron roof, both in good condition, this residential rental flat complex is a prime investment opportunity. The property's capital value has seen a rapid increase from $780,000 in 2017 to $1,050,000 as of June 2021, reflecting a growth rate of 34.6%. The latest sales were recorded at $490,000 in 2014 and $359,000 in 2012, while the current HouGarden AVM estimates the property's worth at $1,005,000.

With a brand new Coloursteel roof installed in 2020, this property is poised for a stress-free next 15 years. Currently generating a strong rental income of $1,000 per week, the dual 2-bedroom units offer stability and potential for further value enhancement. The location is conveniently situated near motorways, public transport, and is within the zones of Otahuhu College (Secondary, Decile 1) and Fairburn School (Contributing, Decile 1), making it an ideal investment for those seeking both rental returns and educational convenience.

Whether you're looking to capitalize on the high demand in Otahuhu or to add value through strategic renovations, this property presents an unbeatable investment potential. Don't miss out on this hot property alert!

Updated on October 29, 2024