250 Richmond Road, Grey Lynn
- This location has been autonomously mapped, it may not be exact.
250 Richmond Road, Grey Lynn
$489,000
Cheap Cheap..Cheap Cheap
Is this the best-value apartment in Grey Lynn/Ponsonby?...Probably.
Why?
1) It's bank friendly. So it's not this price just because it's 'undersize'. At 40m2, banks will all lend on this one. Making it an ideal first home purchase.
2) Security. Everyone knows that many buildings have remedial issues at some point in their lives. This building has had its issues and now has a recently issued CCC, which comes with a 10-year warranty for the work done. Similar to what you'd get from a new build, but without the prices.
3) It's asking almost $200,000 less than the prices these reached a few years ago, meaning it's asking almost 30% less...while the market supposedly decreased by around 15%..?
4) The area. It's in Grey Lynn, and just a stones throw from Ponsonby means that once the market does start to improve when those interest rates inevitably come down at the end of the year...someone looking to buy in this area is surrounded by million-dollar houses...where are the first home buyer properties...apartments.
So on offer, we have one of the most affordable...bank friendly apartments. In an area of town that's going to have a pretty obvious capital gain due to the lack of options that future buyers will have...while having a new CCC ensures your peace of mind that any additional costs here are unlikely compared to any other complex...
Get in touch to arrange your viewing.
Note: The chattels in the photos may vary from what is being sold, please check the chattels list if this is important to you.
Facts & Features
Title Type
Freehold
Rates
$1669.24
Rental Appraisal
$570-$600 /week
Estimated Net ROI
4.68%
Dan McKillen
Matt Kearns
Disclaimer: Apartment Specialist are often asked to give information as to the area or dimensions of properties, including rooms, decks and patios. Apartment Specialists sources such information from third party sources (for example Council records, building management records) and passes this on; unfortunately it is not uncommon for such information to be inaccurate. If exact and accurate sizes or dimensions is an important factor in your decision then you as Purchaser must make your own independent enquiry from your own chosen expert (for example a registered valuer).
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