42 Felton Mathew Avenue, St Johns, – Home For Sale • Ray White New Zealand

607m²

298m²

House

Asking Price $450,000

Agents
- Suzie Cox
  027 278 3269
  Licensee Salesperson
Ray White Remuera: Megan Jaffe Real Estate Ltd Licensed (REAA 2008)

411 Remuera Road, Remuera Auckland City 1050

Contact agent

This is Gold - Leasehold Money Earner

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 and this has been set at $75,000 per year for the next 21 years.

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.

Inspections

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School catchments

St Pius X Catholic School (Glen Innes) Full primary Years 1-8 State integrated 0.54km
Glen Innes School Full primary Years 1-8 State 0.78km
TKKM o Puau Te Moananui-a-Kiwa Composite Years 1-15 State 1.1km
St Thomas School (Auckland) Full primary Years 1-8 State 1.2km
Glen Taylor School Full primary Years 1-8 State 1.4km
Selwyn College Secondary Years 9-15 State 1.4km
Tamaki College Secondary Years 9-15 State 1.8km
Stonefields School Full primary Years 1-8 State 1.9km
Glenbrae Primary School Full primary Years 1-8 State 1.9km
Pt England School Full primary Years 1-8 State 2.0km
St Heliers School Full primary Years 1-8 State 2.0km
Ruapotaka School Full primary Years 1-8 State 2.0km
Glendowie College Secondary Years 9-15 State 2.1km
Mt Carmel School (Meadowbank) Primary Years 1-6 State integrated 2.1km
Sacred Heart College (Auckland) Secondary Years 7-15 State integrated 2.2km
St Ignatius Catholic School (St Heliers) Primary Years 1-6 State integrated 2.2km
Kohimarama School Full primary Years 1-8 State 2.2km
A1 Student School Composite Years 1-15 Private 2.3km
Meadowbank School Primary Years 1-6 State 2.6km
Auckland Montessori College Secondary Years 7-15 Private 2.9km
Atea College Composite Years 1-15 Private 3.2km
Michael Park School Composite Years 1-15 State integrated 3.7km
Baradene College Secondary Years 7-15 State integrated 4.4km
Saint Kentigern College Secondary Years 7-15 Private 4.8km
One Tree Hill College Secondary Years 9-15 State 5.0km
Pakūranga College Secondary Years 9-15 State 5.5km
Macleans College Secondary Years 9-15 State 6.0km
Edgewater College Secondary Years 9-15 State 6.0km

Nearest schools, measured in a straight line from the property. Provided as a guide only; check enrolment zones and eligibility with the school. School data © Ministry of Education, licensed under CC BY 4.0.

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