Excellent earner is also a head turner

Herald Homes 3F/16 Gore St, Auckland CBD. Photo/Supplied

3F/16, GORE ST, AUCKLAND CBD

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SIZE: 38sq m.

PRICE INDICATION: CV $205,000.

INSPECT: Sat/Sun: 12.45-1.15pm or by appointment. Auction September 30.

ON THE WEB: barfoot.co.nz/554749

CONTACT: Livia Li, Barfoot & Thompson, 027 560 9668.

BODY CORP: $2521.55 a year.

Athena Zhang and Jeremy Zong could easily foresee the merits of investing in this freehold one-bedroom apartment three years ago on the third floor of the Harbour City building in central Gore St.

It is an easy walk to the Britomart transport hub and also close to the great selection of cafes, restaurants and shops nearby at the Britomart retail centre, the Viaduct, Queen St, Countdown supermarket, the ferries and University of Auckland.

"Everything is very handy and Britomart is a very hot spot," says Athena.

That investment has been true to its purpose. Athena says the rent has covered her mortgage and other expenses.

"I bought it for investment purposes and it has always been rented out.

"Currently, the apartment is bringing in $410 a week, which is very good. I have used a rental agency to look after the tenancy.

"I think the location is very good and a lot of businesspeople who work in the city or students like to rent the apartments here. They are very easy to rent out."

Athena and Jeremy haven't made any changes as the apartment was in great condition when they bought it and their tenants have always taken good care of it.

"Our previous tenants stayed here for two years. I always like to have businesspeople.

Image 1 of 2: Vendors satisfied with the return on their investment three years ago

"I looked at a lot of apartments and I thought this one looked quite good. A lot of businesspeople and students live here and it also appeals to tourists as some of the apartments are like hotel stays."

The apartment faces the waterfront and Athena says it has a glimpse of the harbour from the balcony plus views of the city.

The Harbour City building, constructed around 2006, has 38 floors of studio, one-bedroom, two-bedroom and penthouse apartments. There is a pool and a gym for residents to use.

As you enter Athena's and Jeremy's apartment, there is a galley-style kitchen on your left then the carpeted lounge and dining area, which opens to the balcony. The bathroom is off to the right near the entrance, and the bedroom is also on the right, also with access to the balcony.

Athena says they are selling the apartment as she is expanding her business and needs to free up cash. "Otherwise I wouldn't sell it. It is a very good investment. Every year I get a surplus on my investment, all my rental income can cover my mortgage, my body corp fee, everything."