Nestled on a quiet cul-de-sac at 15 Forbes Road, Favona, Auckland, this 1966-built residential property offers a prime opportunity on a freehold section of 809m2. The house boasts 3 bedrooms, 1 bathroom, and a single carpark, with a floor area of 94m2. The exterior is crafted from wood, complemented by a tiled roof in good condition. Investors and DIY enthusiasts will find potential in this property, which has seen a Capital Value (CV) leap from $600,000 in 2017 to $1,200,000 as of June 2021, indicating a 100% increase. The standalone double garage and a section zoned for mixed housing add to the appeal.
With a HouGarden AVM of $1,150,000, the property presents a lucrative prospect. The CV growth and the potential for renovation make it a golden opportunity for those seeking a project with significant upside. The location, a short drive from Mangere Bridge, Mangere Town Centre, and Otahuhu, provides access to amenities and transport links, enhancing the property's value.
For families with children, the property falls within the Favona School zone, a contributing school with a decile rating of 2, and Southern Cross Campus for years 7-8, a composite school with a decile rating of 1. This home is not just a blank canvas for transformation but also a smart investment in education.
Updated on October 03, 2024
Address | Distance | Bed | Bath | Floor area | Sold date | Sold | Data source | |
|---|---|---|---|---|---|---|---|---|
 | 0.61 km | 3 | 1 | -m2 | Year 2024 Month 12 Day 04 | $770,000 | Council approved | |
 | 0.38 km | 3 | 1 | -m2 | Year 2024 Month 09 Day 01 | $750,000 | Council approved | |
 | 0.36 km | 3 | 1 | 90m2 | Year 2024 Month 08 Day 18 | - | Council approved | |
 | 0.47 km | 3 | 1 | -m2 | Year 2024 Month 08 Day 01 | $752,000 | Council approved | |
 | 0.51 km | 4 | 2 | 160m2 | Year 2024 Month 07 Day 29 | - | Council approved |