Nestled on a prime 812sqm freehold section at 42 Motatau Road, Papatoetoe, Auckland, this residential property with vacant land for multiple housing boasts of a brick exterior and a tiled roof, both in good condition, constructed in 1962. It features 3 bathrooms and a carpark, with a floor area of 151sqm, ideal for developers and investors looking for a sound investment. The capital value has seen a significant increase of 40.78% from $1,030,000 in 2017 to $1,450,000 as of June 2021. The HouGarden AVM estimates the property's worth at $1,347,500, while the latest sales were recorded at $1,325,000 on May 8, 2024, and $1,560,000 on June 23, 2021.
With a CV increase that outpaces the market average, this property presents a golden opportunity that doesn't come by every day. It's currently rented at $680 per week, demonstrating its income potential. The location is strategically situated, minutes away from the Motorway, Hunters Plaza, Grange golf course, and local shops, enhancing its appeal.
For families, the property falls within the zones of Papatoetoe Intermediate (Decile 2), Papatoetoe Central School (Decile 4), and Papatoetoe High School (Decile 3), ensuring quality education for all ages. This is an investment not just in property, but in a community and future.
Updated on May 29, 2024
Address | Distance | Bed | Bath | Floor area | Sold date | Sold | Data source | |
|---|---|---|---|---|---|---|---|---|
 | 0.18 km | 5 | 3 | -m2 | Year 2024 Month 12 Day 01 | - | Council approved | |
 | 0.19 km | 3 | 1 | -m2 | Year 2024 Month 10 Day 01 | $869,000 | Council approved | |
 | 0.18 km | 4 | 3 | -m2 | Year 2024 Month 09 Day 01 | $1,095,000 | Council approved | |
 | 0.20 km | 2 | 1 | -m2 | Year 2024 Month 09 Day 01 | $542,000 | Council approved | |
 | 0.19 km | 2 | 1 | -m2 | Year 2024 Month 08 Day 01 | $610,000 | Council approved |