9/36 Growers Lane, Mangere East, Auckland - Manukau

Nestled in the serene Mangere East, at 9/36 Growers Lane, this residential unit boasts a 2-bedroom configuration under a Unit Title. Constructed in 2004 with brick walls and tiled roofing, the property presents an average condition both inside and out, sitting on a level contour. It offers a practical floor area of 102 square meters, equipped with a heat pump to meet healthy home standards, and a private outdoor space for the tenant's enjoyment. Notably, this property guarantees rental income until June 2026, currently providing a stable return of approximately $2,600 monthly, making it an investor's dream with a rental yield of $31,200 annually.

From a valuation perspective, the property has seen a significant Capital Value increase of 41% from $440,000 in July 2017 to $620,000 as of June 2021. HouGarden's AVM estimates the property's worth at $567,500, while the latest sale was recorded in May 2004 for $209,000. This upward trend in value makes it a sound investment opportunity.

For families with children, the property falls within the zones of the Southern Cross Campus for years 7-8 and Mangere East School, both rated at decile 1. This addresses educational needs in a location that offers convenient access to Countdown, the local library, and Walter Massey Park, with easy motorway connections.

Updated on December 11, 2024