Nestled on a prime 931sqm freehold section at 116 Kolmar Road, Papatoetoe, Auckland, this versatile property presents an opportunity like no other. The residence, with its mixed-materials construction for both walls and roof, boasts 7 bedrooms, 4 carparks, and a substantial floor area of 316sqm. Currently, the property enjoys a government valuation of $2,325,000 as of June 2021, showcasing a significant CV increase of 22.37% since July 2017. This income-generating property has a main home at the back, complete with an open-plan layout and privacy, and two additional dwellings at the front, offering a rental opportunity that's hard to find.
With a HouGarden AVM of $2,337,500, the property's latest sale history dates back to 2004 at $560,000, and 1995 at $200,000, indicating its consistent growth in value. This property is not just an investment; it's a promise of potential, with the versatility to renovate or develop further, subject to council approval.
For families, the property falls within the zones of Papatoetoe Central School, Papatoetoe Intermediate, and Papatoetoe High School, with respective deciles of 4, 2, and 3. It's a chance to invest in a property that not only offers financial returns but also access to quality education.
Updated on September 04, 2024
Wāhi Tiriti | Tawhiti | Tau Rūma Moe | Tau Rūma Horoi | Rohe Whare | Wā Hokona | Utu Hokona | Pūtake Raraunga | |
|---|---|---|---|---|---|---|---|---|
 | 0.10 km | 1 | 1 | -m2 | 2024 10 01 | - | Council approved | |
 | 0.13 km | 2 | 1 | 57m2 | 2024 09 13 | $518,000 | Council approved | |
 | 0.12 km | 2 | 1 | 155m2 | 2024 08 14 | $635,000 | Council approved | |
 | 0.09 km | 2 | 1 | 90m2 | 2024 08 13 | - | Council approved | |
0.12 km | 190m2 | 2024 07 16 | $1,375,000 | Council approved |