Five out of eight sell under the hammer at Ray White City Apartments Auckland auction

A two bedroom apartment in the Mediterranee sold for $400,500

Ray White City Apartments sold five of the eight apartments on offer under the hammer at their latest Auckland auction, giving a clearance rate of 63%.

The mood at the auction was mainly upbeat and noticeably improved from some recent events, with competitive bidding on most properties, although buyers generally seemed more cautious on price than they were a couple of months ago.

Prices ranged from $210,000 for a modern one bedroom unit with a car park in a mid-rise block in Eden Terrace that was leased to Housing NZ, to $400,500 for a modern two bedroom unit with a car park, located around the corner from Ponsonby Rd.

See below for the full results:

  • 502/70 Pitt St. Chatham building. A 50 square metre, one bedroom unit with a balcony. Sold for $260,000 plus GST. Leased to a serviced apartment operator. According to QV.co.nz the unit had been purchased for $281,500 in 2010. Rates were $1298 and the body corporate levy $3466. The agent was Aileen Wu
  • 10E/8 Bankside St. Waldorf Bankside. A 30 square metre, one bedroom unit with balcony. Rented at $410 a week. Sold for $261,000. According to QV.co,nz the unit had been purchased for $213,000 in July 2013. Rates were $1051 and the body corporate levy $3873. The agents were Judi and Michelle Yurak.
  • 508/85 Wakefield St. Tetra House. A 39 square metre, one bedroom, two bathroom unit, rented at $370 a week. Sold for $265,000. No sales history available. Rates were $1175 and the body corporate levy $4282. The agent was James Mairs.
  • 3H/99 Anzac Ave. Focus on Anzac building. A recently refurbished, 55 square metre, two bedroom unit with a high stud ceiling and a car park. Vacant. Although there were multiple bidders for this unit, it was passed in with a highest bid of $460,000. According to QV.co.nz it had been purchased in July this year for $380,000. The agents were Ryan Bridgman and Mitch Agnew. 
  • 1A/10 Crummer Rd, Grey Lynn. Mediterranée  Building (pictured). A 55 square metre, two bedroom unit with balcony and car park. Rented at $430 a week. Sold for $400,500. No sales history available. Rates were $1339 and the body corporate levy $3492. The agent was Leo Zhu. 
  • 1A/23 Upper Queen St. Westmount building. A two bedroom, two bathroom apartment with private courtyard and a car park, with remedial work being undertaken. Passed in with a highest bid of $350.000. According to QV.co.nz the unit had been purchased for $285,000 in 2002. The agents were Damian Piggin and Daniel Horrobin.
  • GA/9 Charlotte St, Eden Terrace. Memphis building. A 45 square metre, one bedroom unit with car park. Leased to Housing NZ, providing rental income of $1560 a month. Sold for $210,000. According to QV.co.nz the unit had been purchased for $208,214 in 2005. The agent was James Mairs.
  • 6A/14 Upper Queen St. Uptown building. A 50 square metre, one bedroom unit with a car park. Rented at $450 a week. There was an opening bid of $380,000 on the unit and when there were no further bids the auctioneer made a vendor bid of $400,000, after which it was passed in. The agent was Krister Samuel. 

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