21 Tennessee Avenue, Mangere East, Auckland - Manukau

Nestled on a prime 1533m2 freehold section at 21 Tennessee Avenue, Mangere East, Auckland, this purpose-built rental flat complex boasts 5 bedrooms and 2 car parks. Constructed in 1950 with roughcast walls and tiled roof, the property presents an average condition both inside and out. The approved resource consent for 14 lots to build 3 and 2 bedroom double story terrace homes is a golden opportunity for any property developer. The capital value has seen a remarkable increase from $900,000 in 2017 to $1,850,000 as of June 2021, showcasing a growth rate of 105.56%. The property is currently tenanted, generating $1,060 per week, with the convenience of being close to Otahuhu Shopping Centre, Train Station, and just 2km from Middlemore Hospital. It falls within the decile 1 school zones of Sutton Park School, Southern Cross Campus, and Mangere East School. The HouGarden AVM estimates the property's value at $1,720,000, while the latest sales history includes a sale in 2017 for $960,000 and another in 2010 for $320,000. Don't miss the chance to transform this gem into a lucrative investment.

With a promising CV growth history and a highly sought-after school network, this property is not just a piece of land; it's a canvas for your investment dreams. The potential is vast, and the clock is ticking. Secure this rare opportunity and let your vision unfold in this thriving community.

Educationally, the property is within a stone's throw of top-rated schools, including Sutton Park School, Southern Cross Campus, and Mangere East School, all of which are decile 1 institutions. This quiet cul-de-sac is not only an ideal place to live but also an intelligent investment in your child's future.

Updated on May 17, 2024