4/42a Park Avenue, Papatoetoe, Auckland - Manukau

Nestled in the heart of Papatoetoe, this well-maintained 2-bedroom, 1-bathroom townhouse with a single carpark is a gem in the residential apartment category. Constructed in 2002, the property boasts roughcast walls and an iron roof, both in good condition, and is situated on a level contour. It holds a Unit Title and offers a private courtyard for outdoor enjoyment. Notably, the property has seen a significant Capital Value (CV) increase from $455,000 in July 2017 to $540,000 as of June 2021, reflecting a growth rate of 18.68%. The HouGarden AVM estimates the property's value at $520,000, while the latest sales history shows transactions at $190,000 in 2009 and $225,000 in 2008. Currently rented at $530 a week, it presents a lucrative investment with immediate returns.

For families, the property falls within the decile 2 school zones of Papatoetoe North School, Kedgley Intermediate, and Aorere College, ensuring quality education options for children of all ages. The location provides easy access to public transport and motorways, enhancing its appeal. With a clear instruction to sell from the owners, this property offers a substantial opportunity for a discerning buyer. It's worth noting that while consent has been approved, a final Code Compliance Certificate (CCC) is pending and may require an inspection to ensure compliance with the approved plans and standards.

Don't miss the chance to make an offer on this reduced-price property in a sought-after school zone!

Updated on April 22, 2024