665b Great South Road, Penrose, Auckland

Located at 665b Great South Road, Penrose, Auckland - City, this industrial warehousing property boasts a floor area of 421 square meters. Constructed in 1980 with mixed materials for the walls and an iron roof, the building is in good condition, both the wall and the roof. It operates under a Unit Title ownership, offering a unique investment opportunity in a strategic location. Despite having no designated car parks, its accessibility and utility in the bustling industrial sector of Penrose make it a valuable asset.

Over the years, the capital value of this property has seen a significant increase, from $1,020,000 in July 2017 to $1,575,000 in June 2021, marking a 54.41% growth. This upward trend is further supported by a recent sale on December 11, 2023, for $1,575,000, closely aligning with the HouGarden AVM estimate of $1,547,500. Such figures indicate a robust and growing market value, reflecting the property's potential for appreciation.

The property is favorably located within the school zones of Baradene College (Secondary, Year 7-15, decile 9), Te Papapa School (Contributing, decile 2), and One Tree Hill College (Secondary, Year 9-15, decile 3). These educational institutions offer a range of learning environments and opportunities, contributing to the property's appeal to a diverse demographic.