5a Browns Road, Manurewa, Auckland - Manukau

Located at 5a Browns Road, Manurewa, Auckland - Manukau, this unique property offers a prime investment opportunity. Comprising two units, each with 2 bedrooms, 1 bathroom, and 2 carparks, the property spans a floor area of 130m² on a generous 804m² freehold land. Built in 1960, the property features wood wall construction and an iron roof, both in average condition, and sits on an easy/moderate fall contour. It's categorized under Residential - Rental flats (purpose built), highlighting its potential as a lucrative rental investment.

The property has seen a significant increase in capital value, from $850,000 in July 2017 to $1,400,000 in June 2021, marking a 64.71% growth. The latest HouGarden AVM estimates its value at $1,377,500. It has a strong rental return of $50,960 per annum. The latest sales data shows transactions at $1,265,000 in November 2020 and $1,300,000 in January 2024, reflecting its appreciating value and investment appeal. The owners, planning for retirement, have invested in upgrades including new roofing and full renovation of the front unit, with approved consents for additional dwellings, yet are now selling due to moving overseas.

The property is ideally situated within the school zones of Homai School, Manurewa High School, and Manurewa Intermediate, all rated decile 1, offering educational opportunities for families. Its location is advantageous, close to Manurewa high school, public transport, Westfield shopping centre Manukau, Auckland international airport, motorway interchange, restaurants, and cafes. This presents a fantastic opportunity for land bankers, home buyers, or developers seeking a property with potential for further development, backed by approved resource and building consents for additional dwellings on this mixed housing urban zoned land.