Open Homes:
Saturday 14 November - 12.30pm to 2.30pm
Sunday 15 November - 12.30pm to 2pm

Double glazed and redecorated, this leasehold unit will generate massive rental returns. Perfect for cash buyers and savvy investors looking for immediate cash flow.

This warm, light-filled, two-bedroom upstairs unit in the heart of sought-after Meadowbank is completely ready to hand over. With professional exterior painting and immaculate interior upkeep, there is absolutely zero maintenance work left to do.

Located in a quiet cul-de-sac just a 10-minute train ride to the CBD, this property offers an unparalleled entry-level opportunity into a premium Auckland suburb.

Why This Is a Savvy Investor's Dream:
• Massive Rental Income: Appraised to return up to $550 per week (Austar Property Management), offering an exceptional gross rental yield on your purchase price.
• Low Immediate Costs: Current ground rent is locked at just $6,750 per annum ($129.81/wk) until July 2030.
• No Body Corp: Save thousands every year with no corporate management fees.
• Council Rates $2,834.47 (2026/2027)
• Healthy Homes compliant

The current lease expires on 17 July 2030, with a guaranteed right of renewal for 21 years in perpetuity. To ensure a smooth transaction, we are completely transparent about the 2030 renewal: The new 2030 ground rent will be calculated at approximately 6% of the land value at that time, split equally across the 4 units in the block. (Legal disclaimer: The current landowner is not legally bound to use this specific formula of 6%, and the actual future ground rent may vary based on their final determination.)

Property Features:
• 2 spacious bedrooms, master with large built-in wardrobe.
• North-facing sunny lounge opening onto a private balcony/deck.
• Double glazing in the kitchen and lounge for year-round warmth.
• Includes a shared carport and a handy garden shed.
• In zone for excellent schools: Meadowbank School, St Thomas School, and Selwyn College.

Asking Price: $139,000 (Open to realistic offers for a clean, fast cash settlement).

The owner is selling privately. All legal documentation, lease agreements, and compliance history are ready for your solicitor's immediate review. Contact today to arrange a private viewing!

Parking/Garaging Info

Shared Carport

Special Features

Deck.

Locality / Area

Meadowbank School – In Zone .
68 Waiatarua Road, Remuera, Auckland .
Tel: 09- 5203739 .
Co-Educational .
Primary .
State : Integrated .
.
St Thomas School - In Zone .
Allum Street, Kohimarama, Auckland .
Tel: 09-5283938 .
Co-Educational .
Full Primary .
State .
.
Selwyn College - In Zone .
Kohimarama Road, Kohimarama, Auckland .
Tel: 09-5219610 .
Co-Educational .
Secondary (Year 9-15) .
State .
.
Baradene College - In Zone .
237 Victoria Avenue, Remuera, Auckland .
Tel: 09-5246019 .
Girls School .
Secondary (Year 7-15) .
State : Integrated .
.
Saint Kentigern Girls' School - Not Zoned .
82 Shore Road .
Remuera .
Auckland .
Tel: 09-5201400 .
Girls School .
Primary .
Private : Fully Registered .
.
Saint Kentigern Boys' School - Not Zoned .
82 Shore Road .
Remuera .
Auckland .
Tel: 09-5207682 .
Boys School .
Primary .
Private : Fully Registered .
.
Kadimah School - Not Zoned .
514 Remuera Road .
Remuera .
Auckland .
Tel: 09-3733072 .
Co-Educational .
Primary .
State : Integrated .
.
Mt Carmel School - Not Zoned .
6 Mt Carmel Place .
Meadowbank .
Auckland .
Tel: 09-5215161 .
Co-Educational .
Primary .
State : Integrated .
.
St Joseph's School - Not Zoned .
16 Brenton Place .
Orakei .
Auckland .
Tel: 09-5210866 .
Co-Educational .
Primary .
State : Integrated.