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
Wāhi Tiriti | Tawhiti | Tau Rūma Moe | Tau Rūma Horoi | Rohe Whare | Wā Hokona | Utu Hokona | Pūtake Raraunga | |
|---|---|---|---|---|---|---|---|---|
 | 0.17 km | 3 | 1 | 82m2 | 2024 09 04 | $490,000 | Council approved | |
 | 0.25 km | 2 | 2 | -m2 | 2024 09 01 | - | Council approved | |
 | 0.18 km | 3 | 1 | 90m2 | 2024 08 27 | $420,000 | Council approved | |
 | 0.17 km | 3 | 1 | 90m2 | 2024 08 02 | - | Council approved | |
 | 0.20 km | 3 | 1 | -m2 | 2024 08 01 | $901,000 | Council approved |