2i/508 Queen Street Auckland Central, Auckland City

Situated in the heart of the city - this one bedroom apartment provides a unique investment opportunity with HUGE upside.
The building has been identified as having remedial issues and will need to have extensive repair work in the near future.
The current owner was part of a successful litigation claim with the council and as a result there is $59,988 + GST to go towards this unit's share of the remedial cost.
Based on the current remedial cost estimate there is a shortfall of approximately $52,792 + GST that will need to be paid by the new owner.
The upside here is obvious - our owner is selling at a significant discount to provide an attractive opportunity for an astute buyer.
With nearby complexes selling for between $10,000 - $12,000 per sqm you can see the potential on offer.
Banks won't lend on the property so you will need cash, equity or a second tier lender to come to the party.
When finished, 508 Queen will be a high quality complex with a sought after brand new CCC straddled between K'road and the CBD.
Just a short walk to universities, nightlife, restaurants and Myers park.
For further details including a comprehensive information pack please contact Ryan or Mitch.