Nestled at 8 Orrell Place, Mangere, Auckland, this residential dwelling is a gem for the discerning investor. The property boasts 4 bedrooms, 2 carparks, and a floor area of 155 square meters on a levelled land area of 548 square meters. Constructed in 2005 with brick walls and tiled roof, both in good condition, it is a leasehold property that has seen a significant increase in its capital value. From $710,000 in July 2017 to $850,000 as of June 2021, the CV has risen by nearly 20%, indicating a sound investment opportunity.
With a HouGarden AVM of $815,000 and a latest sale history that includes a sale in 2021 for $905,000 and another in 2024 for $780,000, the property presents a compelling case for potential returns. The consistent rental income of $840 per week from a Housing New Zealand lease until 2028, with built-in annual rental increases, ensures a steady cash flow for the investor.
For families, the property falls within the zone of several schools, including Mangere College and Sir Douglas Bader Intermediate, both with a decile rating of 1, and Jean Batten School and Aorere College, with decile ratings of 1 and 2 respectively. This adds to the property's appeal, making it not just an investment but a home in a thriving educational community.
Updated on April 24, 2024
Address | Distance | Bed | Bath | Floor area | Sold date | Sold | Data source | |
|---|---|---|---|---|---|---|---|---|
 | 0.12 km | 4 | 153m2 | Year 2024 Month 09 Day 24 | $785,000 | Council approved | ||
 | 0.16 km | 3 | 3 | -m2 | Year 2024 Month 09 Day 01 | - | Council approved | |
 | 0.16 km | 4 | 1 | -m2 | Year 2024 Month 09 Day 01 | - | Council approved | |
 | 0.13 km | 4 | 2 | -m2 | Year 2024 Month 08 Day 01 | $901,000 | Council approved | |
 | 0.15 km | 4 | 1 | 155m2 | Year 2024 Month 07 Day 23 | $900,000 | Council approved |