241 Penrose Road, Mount Wellington, Auckland City, Auckland

Substantial in nature and offering 280m2 of floor area and a sizable land parcel of 833m2 (zoned Terrace Housing Apartment Buildings).

This property will suit

• Mum and Dad investors looking for a safe and solid cash flow return

• Long term land bankers seeing an opportunity for future growth especially with the market turning positive

• Developers looking for a healthy holding income while they submit RC to council

• Homeowners looking to pay down their mortgage quick smart (maybe rent out the rooms to flat mates or live in one side of the property and tenant the other!

• Extended families wanting some separate space from the Whanau

Both sides of the home are currently tenanted and indicating that they would like to stay on making it simple to continue as an on-going concern. The 5 bedroom home currently rents for $850 per week and the rear self-contained 1 bedroom is $400 per week. Benefitting a return of $65,000 per year and with fixed term deposit rates dropping, could this be an exciting opportunity to keep your hard earned cash safe?

Set back from the road with off street parking for 4+ cars and 2 single garages and in a super central location. You are walking distance to Countdown and have good access to main arterial roads, SH1 and public transport. All the eateries, entertainment and shopping at Sylvia Park Shopping Centre are just a few minutes' away, along with the train stations at Penrose and Sylvia Park and Ellerslie and Lunn Ave shops are a short drive away along with Panmure's idyllic basin and leisure and fitness trail.

Often sought and rarely found, an overseas vendor is looking to cash out, so be quick to secure your future with this long-term cash cow.