113/85 Wakefield Street Auckland Central, Auckland City

Auction: 12.30pm, Thursday 2nd December 2021 (unless sold prior)

Beautifully presented one bedroom apartment and two bathrooms in university precinct. The floor area is 39sqm; it comprises a spacious bedroom with ensuite as well as a well-sized formal lounge with a second bathroom which is a rarity amongst city apartments. The current tenant pays $400 per week which already makes the investment return up to approximately 5% net. This figure will increase even more when the borders open and international students can return to NZ, as compared with the record-low interest rate. The body corporate is reasonable, being around $4,000 per annum including hot and cold water. Some of the units in the building are running as serviced apartments of Nesuto with a reception counter downstairs that also acts as the building manager. This means that the building is managed with caution in order to maintain high standards. You also get the chance to run your unit as an Airbnb business.

The location of the building is unbeatable! Both the University of Auckland and AUT are just minutes away. It only takes a very short stroll to reach Queen Street shops, banks, cafes, public library and all other amenities. Overseas vendor needs an urgent sale due to personal reasons and wants to get the result on auction day. Great opportunity to grab a bargain!