10/45 Karepiro Drive, Stanmore Bay, Auckland - Rodney

Nestled in a serene cul-de-sac at 10/45 Karepiro Drive, Stanmore Bay, Auckland, this modern industrial property boasts a unique live/work setup. Constructed in 2018 with a mix of materials for the walls and iron for the roof, it presents a good condition both inside and out. The unit comes with 2 dedicated carparks and a floor area of 143 square meters, under the Unit Title ownership. The property, with potential for dual-tenancy, is currently generating an income of $40K plus gst and outgoings monthly, and the seller is willing to offer a 6-month lease to facilitate the transition for a new long-term tenant.

As per the government's valuation, the capital value has seen a slight dip from $730,000 in 2017 to $710,000 as of June 2021, indicating a decrease of 2.74%. However, the HouGarden AVM estimates the property's worth at $700,000, making it an attractive investment, especially with the upcoming Penlink bridge project poised to enhance capital gains in the coming years.

For families, the property falls within the zones of well-regarded schools. Stanmore Bay School is a contributing school with a decile rating of 8, while Whangaparaoa College and Whangaparaoa School both rank 9 in their respective categories. This combination of investment potential and educational opportunities makes it a compelling package for both investors and owner-occupiers.

Updated on October 30, 2024