Price: $2.5m + GST (Substantially Below GV)
Capital Value: $3,600,000
Land Size: 29,600 m²
Floor Area: 186 m²
Tenanted - Rental Income: Approx. $1,000 per week
Unlock the potential of this remarkable property at 15 Glenmary Place, Papatoetoe. With a large landholding of 29,600 m², a spacious four-bedroom home, and three bathrooms, this property presents an exceptional opportunity for both land banking and build-to-rent development.
Key Features:
• Large Land Area: The property boasts 29,600 m² (2.96 hectares) of prime land, offering a blank canvas for future development, subdivision, or land banking.
• Four Bedrooms & Three Bathrooms: The existing 186 m² home features generous living spaces, perfect for a large family or as a high-demand rental property.
• Current Rental Income: Currently tenanted, generating an income of approximately $1,000 per week, making it an excellent investment opportunity from day one.
• Development Potential: This underdeveloped parcel offers significant potential for subdivision or the creation of multiple units, subject to council approval.
• Motivated Vendor: The vendor is exiting the market and offering this property well below its GV - a fantastic opportunity for savvy investors and developers looking to capitalize on the current market.
Location Benefits:
• Excellent Accessibility: Situated in Papatoetoe, this property enjoys easy access to transport, local amenities, and major road networks.
• Suburb Growth: Papatoetoe is a vibrant and growing suburb located just 20 km south of Auckland CBD, within the Manukau City area. It boasts a strong community, excellent schools, shopping, and public services, making it a highly sought-after location for future residents.
This is a rare opportunity to secure a substantial landholding in a well-established suburb with huge development potential. With development concept plans available, this is ideal for investors and developers looking for a prime site in a rapidly growing area.
Also available, For Sale: Exceptional Development Opportunity at 110 Station Road, Papatoetoe, Auckland
Don't Miss Out - Contact Enoch 021928361 Today!
Arrange a viewing or discuss further details about this unique investment opportunity!