City Sales sales manager Scott Dunn told OneRoof that costly remediation work was due to start on the five-level apartment block sometime next year.<\/p>\n
![\"A](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2025\/09\/24b4ed68a5e455a2b0afb05d746ff07d.jpg\")
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The apartment is rented out for $630 a week. Photo \/ Supplied<\/p>\n
His client did not want to pay hundreds of thousands of dollars for the repairs or deal with the stress of the situation.<\/p>\n
Listing agent James Mairs is pitching the property, which returns $630 a week in rent, at \u201cspeculators, opportunists, traders and plunderers\u201d.<\/p>\n
Dunn felt the most likely buyer would be an investor with a high tolerance for risk. First-home buyers were a no-no, he added.<\/p>\n
Discover more:<\/p>\n
– The cheapest homes on Auckland\u2019s rich-lister street<\/a><\/p>\n – Foreign buyer ban scrapped for $5m-plus homes – what it means for NZ house prices<\/a><\/p>\n – Mansion sells in two weeks for around $20m – \u2018bang, the deal is done\u2019<\/a><\/p>\n \u201cThat $300,000 or so that you need, you can\u2019t ask the bank for that unless you have a lot of property,\u201d he told OneRoof.<\/p>\n \u201cIt suits someone who owns more than one property and can withstand a couple of years of bills and things, but would be confident that at the other end they would have a product that is far superior and much more valuable that they can sell on for a profit.\u201d<\/p>\n Dunn estimated the remediated apartment would fetch between $800,000 and $900,000 in the current market.<\/p>\n The apartment has views of Sky Tower. Photo \/ Supplied<\/p>\n The apartment block was just off College Hill and a very \u201cfun part of town\u201d, near Victoria Park. \u201cIt rubs shoulders with Herne Bay, St Marys Bay, and Ponsonby. It\u2019s like super central without being CBD,\u201d he said.<\/p>\n \u201cYoung people shouldn\u2019t buy it unless they\u2019ve got stacks of money, but the area is really made for cool, fashionable people.\u201d<\/p>\n Within a few hours of the listing going live on Thursday, the agents were receiving inquiries. \u201cI\u2019m very confident we are going to find out what the market rate is,\u201d Dunn said.<\/p>\n 21 Hargreaves Street should not be confused with the troubled apartment block at 23 Hargreaves Street, which has attracted negative headlines over the years<\/a>. <\/p>\n Residents of The Ridge, at 23 Hargreaves Street, were in a hole because they could not find the funds needed to repair the building. <\/p>\n In a last-ditch attempt to salvage some money from the situation, they applied for and won court approval to cancel their unit titles, so they could sell the land beneath the leaky and defective apartments.<\/p>\n![\"A](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2025\/09\/03bc978b2ebea1040bf79c0c7c5b8947.jpg\")
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