Nestled at 120 Thorncombe Road, Te Awamutu, Waipa, this freehold property is a gem for investors. Constructed in 1960 with solid brick walls and an iron roof, it offers 5 bedrooms, 3 bathrooms, and a spacious floor area of 161 square meters on a generous 1239 square meter plot. The property, though not up to current Healthy Home standards, comes with documentation to facilitate upgrades, making it an attractive opportunity. It features 2 two-bedroom units, one studio unit, individually metered power, and a shared water meter, with each unit having its own carport. The capital value has seen a rapid increase of 46%, from $500,000 in 2019 to $730,000 as of 2022, with a HouGarden AVM estimate of $735,000. The latest sales were recorded at $697,500 in 2024 and $430,000 in 2016.
For families, the property falls within the Te Awamutu College (Secondary, Decile 5), Pekerau School (Contributing, Decile 4), and Te Awamutu Intermediate (Intermediate, Decile 5) zones. This ensures quality education options for children of all ages. The property's potential is immense, as it offers a multi-unit setup with consent, ready to be transformed into a lucrative investment.
With a prime location in a quiet cul-de-sac, this property is a golden opportunity for those looking to add value and benefit from the thriving Te Awamutu community. Don't miss the chance to explore its potential.
Updated on October 02, 2024
Address | Distance | Bed | Bath | Floor area | Sold date | Sold | Data source | |
|---|---|---|---|---|---|---|---|---|
0.06 km | 8 | 307m2 | Year 2024 Month 10 Day 03 | $430,000 | Council approved | |||
 | 0.10 km | 4 | 0m2 | Year 2024 Month 09 Day 21 | $400,000 | Council approved | ||
 | 0.09 km | 3 | 220m2 | Year 2024 Month 09 Day 05 | $700,000 | Council approved | ||
 | 0.11 km | 3 | 186m2 | Year 2024 Month 09 Day 05 | $899,000 | Council approved | ||
 | 0.10 km | 4 | 270m2 | Year 2024 Month 08 Day 07 | $779,000 | Council approved |