Yes, this house has some issues! However, if you are prepared to do some remedial work and you are a cash buyer it's an incredibly affordable opportunity to secure a lovely family-sized home in this highly sought-after neighbourhood close to Takapuna Beach and shops.
IMPORTANT NOTE: You will likely struggle to get a mortgage for this property from mainstream lenders. You therefore need to be a cash buyer or have access to the "Bank of Mum and Dad."
Visually it's mostly in excellent condition, very comfortably and stylishly decorated. However, several building reports have identified some suspicious areas, some with high moisture readings. Come and have a look for yourself and if you decide to make an offer the vendor may agree for you to carry out invasive inspections to establish the extent of remediation needed before you go unconditional. Lots of options here:
· Repair the problem areas to preserve the value of your investment, then move in and enjoy your Hauraki Corner lifestyle.
· Gut the exterior, carry out a full re-clad with cavity, and obtain a new CCC. The property would then possibly be worth in excess of the 2021 CV of $1.75M. NB. We believe the framing is likely to be treated timber as it was built in 1993 which was two years before Kiln Dried Untreated Timber was allowed in the Building Code.
· Landbank for future development? This is the rear of three properties: You could aim to convert the cross-lease 1/3 share of 1214 square metres to freehold giving you over 400m2 Mixed Housing Urban zone (allows up to three storeys). At some stage in the future you could also look to buy the other two properties on the cross-lease.
The exterior of the home is a combination of thick rendered stucco plaster, cedar weatherboards, and brick. It has a recently re-glazed concrete tile roof, fresh paint throughout, and double-glazed windows. Step inside and you will be amazed by the spaciousness it offers, with 3 double bedrooms, 2 1/2 bathrooms including a renovated master ensuite, a large lounge, open plan dining and kitchen, and a double garage with large double doors opening to the back garden, this home has it all. Located at the rear, it has peace, tranquillity, and utmost privacy.
Location and neighbourhood are the best:
· Enjoy the elevated outlook across the valley from the pretty North-facing backyard with wide decking and excellent outdoor flow from the living area.
· Enjoy the convenience of being only a 500m walk to Takapuna Beach, 250 m to the shops and eateries of Hauraki Corner, or 850m to Takapuna CBD.
· Zoned for the highly sought-after Westlake Girls, Hauraki Primary, Takapuna Grammar & Belmont Intermediate, with quick and easy access to the motorway, whether you're heading north or south.
This is an opportunity not to be missed! Realistic vendors are absolutely committed to selling so call us now.•
