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Back 1A/508 Queen Street
Off Market

1A/508 Queen Street

Auckland Central Auckland

1
1
34 m²
Apartment
Last sold for $85,000
Krister SamuelKrister Samuel, last sold this property on 22 January 2023 after 67 days on market.

Overview

Expected return 17%

The freehold apartment is located at the top of Queen Street, close to Universities, shops, and restaurants, everything is at your doorstep. Close to all public transport, bus stops in front of the building, All highway entrances are within a five-minute drive. The apartment has always been sought after by tenants. The equation - the current rent is $320 per week (others in the building rented up to $420 per week) less -Body corporate levy: $2,378.12 per annum & City council rate is $899.14 per annum. Net Income $13,362. The 508 Queen Street apartments have known remedial issues which will cost the new owner funds to fix. There is already a significant sum sitting in the body corp accounts to help pay for the project, for this unit 1A the settlement fund is $54,940.85+ GST. This will mitigate any future top up -STRATUM IN FREEHOLD TITLE, best you can buy for apartments -2021 CV: $175,000 -Superb net rental returns The owner won't wait till construction repair finishes, and wants it sold ASAP!! Their loss and your gain! Inner city apartments with no remedial issues are selling for approximately $10,000 per sqm more or less. Bring your calculator and do your numbers! If you are a cash buyer and looking for a great investment opportunity in the future, don't miss it!

Features

1 bedroom
1 bathroom
34 m² floor area
Apartment

Estimated Value

Based on this property and similar 1 bedroom apartments sold in Auckland Central over the last 12 months, the estimated median property value of 1A/508 Queen Street is $216.5k.

Median value
$216.5k
Estimated value range
$22k - $1.3m
Median days on market
46
Estimated value trend
7%
increase over the last 12 months
Average days on market is based on recent, comparable sales in Auckland Central. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 1A/508 Queen Street

2023
Sold
$85,000
22 Jan 2023 by Krister Samuel, of Ray White Auckland Central (A T Realty Group)

Happy sellers in Auckland Central

63%
63% of sellers in Auckland Central reported that their sale price either exceeded or met their price expectations.

Auckland Central stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 177 reviews in Auckland Central over the last 12 months.

Local market activity for 1 bedroom apartments in Auckland Central

In the last 12 months, 216 one-bedroom apartments similar to 1A/508 Queen Street, have been sold.

This represents a 18% increase in one-bedroom apartments sales when compared to the previous 12 months.

Nearby agents

Compare and contact these top performing agents who’ve delivered exception customer service for their clients in Auckland Central

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Selina Zheng

Sellers who recommend Selina Zheng have praised them for being local expert, clear communication, responsive, dedicated, well-prepared, patient and supportive

  •   5   (124 reviews)
  •  34 Reviews in Auckland Central
  •  82 Sales in Auckland Central
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Habeeb Urrahman

Sellers who recommend Habeeb Urrahman have praised them for being local expert, clear communication, hard-working, reliable, dedicated, supportive and responsive

  •   5   (112 reviews)
  •  15 Reviews in Auckland Central
  •  31 Sales in Auckland Central
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Dominic Worthington

Dominic Worthington is an award winning recommended agent for Auckland Central.  They have 11 local sales and collected 15 local reviews across the last 12 months.

  •   5   (134 reviews)
  •  15 Reviews in Auckland Central
  •  11 Sales in Auckland Central
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Sharene Temple

Sellers who recommend Sharene Temple have praised them for being local expert, clear communication, supportive, responsive, hard-working, empathetic and great negotiation

  •   5   (58 reviews)
  •  15 Reviews in Auckland Central
  •  10 Sales in Auckland Central
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