Huge Potential! Vendor MUST SELL!

Auction: FHL72J2L1FP2OVHTS0KI on Monday 6 November 2023 at 5:11AM (unless sold prior)

The Connaught has always been considered one of Auckland's most luxurious and beautiful freehold apartment buildings with its unique European historical design, beautiful Edwardian facade, and impressive wood-panelled lobby. But after witnessing the change and development of Auckland CBD for over 20 years, large-scale maintenance work is currently necessary to preserve the building and refreshen it.

Astute buyers can easily do the calculation here! With the hugely discounted purchase price plus potential costs for the remediations, big margin can be easily seen!

This lovely city pad features:

• Stratum in Freehold title
• 32sqm internal floor size plus a spacious balcony
• One good-sized bedroom with one bathroom
• One basement storage locker completes the package
• Open plan living that has slider access to the generous balcony with fantastic urban views
• There is an onsite swimming pool and gym, as well as a live-in building manager
• Current weekly rental income: 350/pw, with a periodic term

Affordable annual outgoings:

• City council rates: $966.69/p.a
• BC Levy: $4,019.30/p.a

The location is unbeatable being opposite the Old Government House and adjacent to the High Court. You will be within easy walking distance to the city, Albert Park, and universities. You will also be only a stone's throw away from Britomart transport hub with all its upmarket restaurants and bars.

The Connaught has upcoming repair work, but this could be an opportunity for the savvy investor with an eye on the future. Get in quick, this is one for the future! The vendor is serious to sell! Call Selina for more information!