237a Penrose Road, Mount Wellington, Auckland

Nestled in the esteemed Mount Wellington, Auckland, at 237a Penrose Road, lies a prime residential property on a freehold site. This 1950-built home boasts 3 bedrooms, 1 bathroom, and a generous floor area of 117sqm, set upon a sprawling 433sqm land. The dwelling features fair-conditioned brick walls and an iron roof. Investors and developers alike are poised to benefit from the property's zoning for Terrace House and Apartment, with RC and EPA approvals in place for building 4 dwellings. The capital value has seen a significant increase of 38.03%, from $710,000 in 2017 to $980,000 as of June 2021. The HouGarden AVM estimates the property's worth at $940,000, while the latest sales were recorded at $855,000 in March 2021 and $705,000 in 2016.

For families, the property falls within the decile 9 Baradene College, decile 3 One Tree Hill College, Bailey Road School, and Sylvia Park School zones, ensuring top-notch education for all ages. This property not only offers a promising investment opportunity but also a chance to be part of a thriving community with easy access to Sylvia Park and Mt Wellington shops.

With its prime location, low-maintenance construction, and approved development potential, this property is a golden opportunity for those looking to capitalize on Auckland's thriving property market.

Updated on October 21, 2024