Grafton multi-tenanted character flats

8:43 PM Tuesday March 27, 2018 True Commercial

The building for sale at 20 Huntly Ave, Grafton, is identified by a red border. Photo / Supplied

A character freehold building, containing seven individual residential tenancies which are fully leased, is for sale in Auckland’s central city fringe suburb of Grafton.

The multi-tenanted Grammar School-zoned residence at 20 Huntly Ave comprises a mixture of one and two-bedroom flats with individual power meters. Combined, the tenancies generate annual rent of $191,880.

The 801sq m of freehold land and 405sq m building are being marketed for sale by auction at 11am, April 11, by Bayleys Auckland.

Salesman Phil Haydock says the location is very convenient.

“It’s with easy walking distance of the CBD, Newmarket and Auckland Domain as well as Auckland University, Auckland Hospital and Auckland Grammar School.

“This provides the property with a captive population of potential tenants — including hospital workers, Newmarket or city-based professionals, and students,” Haydock says.

“The character and well-maintained tenancies have good natural light, high ceilings, and polished wooden floors. All dwellings are fully self-contained, with their own kitchens and bathrooms. The property has off-street parking for two vehicles, and is immediately adjacent to Outhwaite Park.”

The two single-bedroom units rent for $390 and $400 a week, while the two-bedroom units rent for between $550 to $650 a week, depending on their size. Some of the ground floor units have their own private outdoor courtyard areas.

The property is zoned Residential-Single House under the Auckland Unitary Plan and sits alongside wooden structured homes built around the same period and to a similar style.

He says the property’s borders are tree-lined and the front of the building landscaped — enhancing street appeal and allowing the building to blend in among its residential neighbours.