Two homes, one exceptional opportunity

Listed 7 Sep
32 King Street, Mangapapa, Gisborne, Gisborne
To be sold by tender (closes on 8 Oct)
Details
- Land area
- 868m²
- Toilets
- 3
- Broadband
- Fibre, Satellite, Wireless
- Capital value (CV)
- $948,000


Two homes, one exceptional opportunity
Discover a rare and exciting opportunity to secure two homes currently held on one title, with subdivision now nearing completion. Offering an exceptional level of flexibility, this property is perfectly suited to extended families, savvy investors, or buyers looking for a unique opportunity with options for the future. The front home provides generous family living, featuring four-bedrooms and two spacious living areas. There is plenty of room for everyone to spread out, relax and enjoy, making this an ideal home for a growing family or those who simply appreciate having extra space. Positioned to the rear is a separate three-bedroom home, offering an entirely different set of possibilities. Whether you need accommodation for extended family, want a private space for teenagers or guests, or are looking for additional rental income, this second dwelling adds considerable appeal and versatility to the property. Keep both homes together and create an exceptional multi-generational living arrangement, allowing family members to live close by while still enjoying their own space and independence. Alternatively, with the subdivision now nearly complete, buyers will have the opportunity to purchase one home individually or secure both, providing flexibility to suit a range of needs and investment strategies. Located in a popular and convenient area close to a range of everyday amenities, this is a property that combines space, convenience, and genuine future potential. With two homes, multiple living options and the flexibility of the subdivision, there is plenty here to get excited about. Whether you're looking for a home for the extended family, an investment opportunity, additional accommodation, or the option to purchase one or both properties, this is an opportunity well worth exploring.
Tender (unless sold prior) 4pm, Thu 8 Oct 2026 Bayleys, 10 Reads Quay, Gisborne

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Local Schools
- MANGAPAPA SCHOOL5 Rua StreetRoll: 410
- GISBORNE INTERMEDIATE156 Roebuck RoadRoll: 501
- CAMPION COLLEGECampion RoadRoll: 475
- MANGAPAPA PLAYCENTRE351 Ormond RoadRoll: 12
- MANGAPAPA KINDERGARTEN2 Rua StreetRoll: 24
- TE KŌHANGA REO O TŌMAIRANGI8 Mary StreetRoll: 30
- TE KŌHANGA REO O TŌMAIRANGI 247 Mary StRoll: 21
- RIVERDALE KINDERGARTEN (GISBORNE)Stout StreetRoll: 26
- RIVERDALE SCHOOL (GISBORNE)324 Stout StreetRoll: 159
- LYTTON HIGH SCHOOL347 Nelson RoadRoll: 551
- TE WHARE WHAI HUA TEENAGE PARENT CENTRENelson Road
- GISBORNE GIRLS' HIGH SCHOOL555 Gladstone RoadRoll: 691
- TE HAPARA SCHOOL31 Mill RoadRoll: 205
- TKKM O NGA URI A MAUI349 Nelson RoadRoll: 221
- TE KURA KAUPAPA MAORI O HOROUTA WANANGA30 Desmond RoadRoll: 186
- GISBORNE CENTRAL SCHOOL7 Central StreetRoll: 379
- SONRISE CHRISTIAN SCHOOL138 Potae AvenueRoll: 145
- TE KURA KAUPAPA MĀORI O HAWAIKI HOU264A Lytton RoadRoll: 89
- ILMINSTER INTERMEDIATE70 De Lautour RoadRoll: 308
Location info
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Property insights
HomesEstimate
- Updated
- October 1, 2026
- Estimated value
- $845K - $970K
These are computer generated price guides only. For more information about this property, contact the agent.
RentEstimate
- Estimated rent
- Not yet available
- Rental yield
- Not yet available
More about RentEstimate and rental yield
Capital value
Summary of land value and improvement value. This is set by the council.
- Updated
- August 1, 2023
- Capital value
- $948,000
- Land value
- $288,000
- Improvement value
- $660,000
Capital Valuation and rates information is sourced from the relevant council. Confirm directly with the council before making any decisions based on this data.
Property trends
- Property estimate trend
- This home estimate range: 845K - 970K
- Suburb median
- Mangapapa: 600K
Past sales & timeline
- Capital Value
$948,000
- Sold
$800,000
- Consent issuedAdd in non load bearing partitions to make bdrm areas so building can be used as a res dwg, add shower & supertub & infinity carry out change of use to both buildings for res dwg
- Capital Value
$800,000
- Capital Value
$715,000
- Capital Value
$499,000
- Sold
$230,000
- Sold
$145,000
- Sold
$113,000
- Sold
$84,000
- Sold
$96,000
- Sold
$70,000
- Sold
$59,000
- Sold
$47,000
- Decade built



