Ray White Remuera
Real Estate Agents
- Listing #:
- RMU43315
- Listed:
- 178 days ago
Asking Price $415,000
This is Gold - Leasehold Money Earner
42 Felton Mathew Avenue, Saint Johns, Auckland CityResidential House
-
- 8 Bedrooms
-
- 4 Bathrooms
-
- 1 Car Garage
-
- 6 Offstreet Car Parks
-
- 298m2 Floor Area
-
- 607m2 Land Area
About this property
Positioned in the increasingly popular suburb of St Johns, this solid concrete block of four apartments offers an exceptional opportunity for savvy investors. Comprising 8 bedrooms and 4 bathrooms in total, the property sits on a 607sqm leasehold site.Each of the four units shares a similar floor plan, with Units 3 and 4 enjoying an elevated, sunny aspect. Unit 4 also boasts a covered deck and a lock-up garage, while Units 1 and 2 feature private courtyards. Some refurbishment will enhance value and appeal even further.
The property is currently generating a combined rental income of $1,870 per week-an impressive $97,240 annually (excluding rates and expenses). The 21-year perpetually renewable lease with St Johns Holdings is due for renewal in January 2027, with current ground rent set at $14,950 per year.
This is a smart long-term investment with great fundamentals-secure tenancies, generous off-street parking, and zoning for sought-after schools (Stonefields School and Selwyn College). It's also conveniently close to Glen Innes Train Station, Lunn Avenue's retail precinct, and local sports facilities.
Don't miss out on this fantastic opportunity. Viewings are by appointment only.
All conjuncting agents welcome.
Organise your power in 2 mins
Check out whether you can get fibre internet
Meet your new neighbours on Neighbourly
