2/42 Kempthorne Crescent Mission Bay, Auckland City

Not every opportunity arrives polished. Some arrive priced for action.

At 2/42 Kempthorne Crescent, Mission Bay, investors and renovators have a rare sub-$700k entry point into one of Auckland's most recognised coastal suburbs.

This vacant 1960s 2-bedroom, 1-bathroom cross-lease townhouse/unit offers approx. 47m2 of floor area, off-street parking and a 1/2 share of 1,255m2. It needs work and that is exactly where the opportunity sits.

The vendor paid $795,000 in 2023. Today, the expectation is $670,000, with the 2024 CV also sitting at $670,000. For the right buyer, this is a chance to renovate, improve rentability and hold long-term in a tightly held Mission Bay location.

Positioned close to Eastridge, Mission Bay Village, Kohimarama Beach, public transport and local schooling, the property offers location strength that entry-level buyers rarely find at this price point.

This is a practical add-value opportunity for investors, renovators, builders and buyers who can see past the current condition.

Australian citizens looking at NZ rental opportunities should also take note. NZ residential property has been attracting interest from Australian investors, with commentators pointing to relative affordability, different tax settings, and the fact that Australian citizens can generally buy NZ residential property on similar terms to locals, subject to individual advice.

Bring your builder. Bring your property manager. Bring your offer.