44 Chippendale Crescent, Birkdale, North Shore City, Auckland

Calling all hands off investors, sit back relax and look at this deal. Build in concrete block in very good condition and great layout, with room to add your 70sqm minor dwelling at the back.

Tenants love to live, here, so close to the CBD and great schools and amenities including jobs. The Math: You acquire a concrete build block of flats, 3 x Large 2-Bedroom Units on one freehold title. The Price: $1.635M. Cost per unit: $546,666. The reality of the market: Average 2-bedroom units in Birkdale are commanding $685,000+ (Ref: Sale of 40B Chippendale Cres, Dec 2025). The Instant Equity: You are buying at approx. $138,000 below retail value per unit. The current return is approx $82,000 p.a. That is "lazy" income. The building is engineered for more. These 1970s units are riddled with "lazy space"—oversized dining rooms and hallways that pay zero rent. How to turn 6 bedrooms into 9 Everyone knows the money is in "Adding a Bedroom." But everyone hates the Council Consent process. This block is the exception. Built in the 1970s, these three oversized units feature separate dining rooms and massive laundries. Execute internal layout changes under Schedule 1 (Exemption 11) of the Building Act, converting these "lazy spaces" into 3rd bedrooms. The Math: Buy 3 units for $1.635M ($546k/door). Spend approximately $25k on internal partition walls (No structural changes). Re-value The Cashflow: Current: $82,000 p.a. (Sleeping giant). Potential: $135,000 p.a. (Fully optimised). The only risk is missing this. We have adjusted the price to ensure a sale this month. If you can manage a renovation team, you can print equity. Viewings: Strictly by appointment to qualified buyers.

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