12K/189 Hobson Street, City Centre, Auckland City, Auckland

Potential. Potential. Potential.

That is the word that comes to mind when I think of this apartment.

Renovated to a good standard back in 2020, and since its been a mixture of Airbnb and long term rented since then, with barely any vacancy.

Why?

A rare find in this market, a 3 bedroom apartment, with views, in good condition, under $500,000.

It's not only just that. The savvy investor here knows that long term, more and more owner occupiers are turning towards inner city apartments as the CBD becomes more and more multi cultural.

What does that mean for the long term outlook of a top floor apartment with views?

It will always hold it's premium better than anything else out there.

Not only that, but it also means that while you own the property over the next decade, the rent you receive is always above market average too. And this apartment is no different.

Renting for $785 per week, a gross income of $40,820(Just under $30k net) per year is huge for this size property. That's without mentioning that you can also change it back to a 4 bed and increase the income further.

Not only that, while usually good yielding assets are so small that banks often won't lend on them...at 58m2 internally here (according to Cotality) it means that there is no threat of the banks refusing to lend on this becasue it is too small. even if they randomly change their rules, which they have done in the past.

So there's a pretty obvious logical play here. A safe Play that also maximizes income.

Let the income roll in, and as the market changes in the inner city over the next decade, reap the rewards.

Note: The chattels in the photos may vary from what is being sold, please check the chattels list if this is important to you.