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Nestled in the serene cul-de-sac of 8 Fairfax Avenue, Penrose, Auckland, this industrial-light-manufacturing property, built in 1972, stands on a freehold land of 974 square meters. It boasts a floor area of 786 square feet, 8 carparks, and is complemented by concrete walls in good condition and an iron roof that同样 stands the test of time. The property's capital value has seen a significant increase, rising from $1,675,000 in June 2017 to $2,575,000 as of June 2021, marking a growth rate of 53.73%.
With a HouGarden AVM of $2,397,500 and a history of sales, the latest being in 2014 for $980,000, this property presents a sound investment opportunity. Notably, the property was sold for $900,000 in 2011, indicating a consistent appreciation in value.
For families with school-going children, the property falls within the zones of several esteemed institutions. Baradene College, a secondary school with a decile rating of 9, and Ellerslie School, a full primary with the same decile rating, are among the highlights. Additionally, Te Papapa School and One Tree Hill College are also within reach, catering to diverse educational needs.
Updated on May 17, 2024
