Sold
1-5/1 Derwent Street,
Western Springs, Auckland City
Price withheld
Property details
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Agents
Ray White Blockhouse Bay: Bay Realty Limited Licensed (REAA 2008)
1 Donovan Street, Blockhouse Bay Auckland City 0600
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Cash Cow with Future Upside
Blocks of units are always in demand and increasingly hard to find. Set on a freehold 835sqm (more or less) site in the Residential - Mixed Housing Suburban Zone, this is a rare opportunity to secure a high-performing investment with strong future potential.
Comprising five one-bedroom units on a single-level layout, the property offers an estimated rental return of $2,160 per week - approximately $112,300 per annum (including water charges). Whether you are looking to invest, landbank, or explore future development potential, this is a property that delivers both location and income.
Property highlights:
• Freehold, flat 835sqm (more or less) site zoned Mixed Housing Suburban
• Five single-level one-bedroom units
• Low-maintenance, easy-care investment
• Strong holding income with future development potential (subject to council approval)
• A compelling option for investors, developers, or long-term land bankers
• New homes in this location are always highly sought after
Positioned in a fantastic central location, you are just minutes from Kingsland and Grey Lynn villages, with their vibrant cafes, popular restaurants, and boutique shopping. Excellent access to motorways, public transport, the city cycle path, and a quick trip to Auckland CBD add even more appeal. Quality schooling options are also nearby, including Western Springs College, Mt Albert Grammar School, Auckland Girls' Grammar School, and Kowhai Intermediate.
Opportunities like this are becoming increasingly rare and continue to attract strong interest.
Call us today for more information.
Comprising five one-bedroom units on a single-level layout, the property offers an estimated rental return of $2,160 per week - approximately $112,300 per annum (including water charges). Whether you are looking to invest, landbank, or explore future development potential, this is a property that delivers both location and income.
Property highlights:
• Freehold, flat 835sqm (more or less) site zoned Mixed Housing Suburban
• Five single-level one-bedroom units
• Low-maintenance, easy-care investment
• Strong holding income with future development potential (subject to council approval)
• A compelling option for investors, developers, or long-term land bankers
• New homes in this location are always highly sought after
Positioned in a fantastic central location, you are just minutes from Kingsland and Grey Lynn villages, with their vibrant cafes, popular restaurants, and boutique shopping. Excellent access to motorways, public transport, the city cycle path, and a quick trip to Auckland CBD add even more appeal. Quality schooling options are also nearby, including Western Springs College, Mt Albert Grammar School, Auckland Girls' Grammar School, and Kowhai Intermediate.
Opportunities like this are becoming increasingly rare and continue to attract strong interest.
Call us today for more information.
Explore the area
School catchments
- Western Springs College-Ngā Puna o Waiōrea Secondary Years 9-15 State 0.07km
- Pasadena Intermediate Intermediate Years 7-8 State 0.44km
- Westmere School (Auckland) Primary Years 1-6 State 0.59km
- Point Chevalier School Rangi-mata-rau Primary Years 1-6 State 1.3km
- St Francis Catholic School (Pt Chevalier) Primary Years 1-6 State integrated 1.3km
- Grey Lynn School Primary Years 1-6 State 1.5km
- St Paul's College (Ponsonby) Secondary Years 7-15 State integrated 1.9km
- Marist Catholic School (Herne Bay) Primary Years 1-6 State integrated 1.9km
- Bayfield School Primary Years 1-6 State 2.0km
- St Joseph's School (Grey Lynn) Full primary Years 1-8 State integrated 2.0km
- Richmond Road School Primary Years 1-6 State 2.0km
- Gladstone School (Auckland) Primary Years 1-6 State 2.1km
- Mt Albert School Primary Years 1-6 State 2.2km
- Marist School (Mt Albert) Primary Years 1-6 State integrated 2.2km
- Waterview School Primary Years 1-6 State 2.3km
- Marist College Secondary Years 7-15 State integrated 2.3km
- Ponsonby Intermediate Intermediate Years 7-8 State 2.5km
- Mt Albert Grammar School Secondary Years 9-15 State 2.6km
- Ponsonby Primary School Primary Years 1-6 State 2.9km
- TKKM o Nga Maungarongo Composite Years 1-15 State 3.0km
- Elim Christian College Mt Albert Composite Years 1-15 State integrated 3.1km
- Auckland Girls' Grammar School Secondary Years 9-15 State 3.2km
- St Mary's College (Ponsonby) Secondary Years 7-15 State integrated 3.2km
- City 0-10 Composite Years 1-15 Private 3.8km
- Aotearoa Infinite Academy Secondary Years 9-15 Charter 4.0km
- The Busy Group New Zealand Limited Secondary Years 9-15 Charter 4.0km
- UP International College New Zealand Secondary Years 9-15 Private 4.0km
- Te Kapehu Whetu - Tamaki Secondary Years 9-15 Charter 4.1km
- Avondale College Secondary Years 9-15 State 4.1km
- Auckland Grammar School Secondary Years 9-15 State 4.6km
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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Photos
Floorplan
Contact Kevin He
Contact Kevin He
Kevin He
1-5/1 Derwent Street, Western Springs 1022
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Kevin He
1-5/1 Derwent Street, Western Springs 1022