76 Storey Avenue, Forest Lake, Hamilton

Nestled in the serene cul-de-sac of Storey Avenue, Hamilton, this 110m2 residential dwelling built in 1950 offers a unique investment opportunity. The home, with its wood exterior walls and iron roof, is in average condition and is situated on a cross-lease section, half a share of approximately 1219m2. The property's current Capital Value (CV) stands at $660,000, reflecting a significant increase of 65% from its $400,000 valuation in 2018. This damaged house, though in need of rebuilding, is centrally located, close to amenities and schools, including Fraser High School, Forest Lake School, and Maeroa Intermediate, all within deciles 3 to 4.

With a HouGarden AVM of $655,000 and a history of sales at $177,000 in 2003 and $130,000 in 1998, this property presents a potential project for builders and investors. Despite the fire and smoke damage, the location's convenience and growth potential make it an attractive proposition. The property is being sold 'As is where is', and the vendors are committed to a sale, with offers being accepted until November 28, 2024, at 3 pm.

For families, the school network is a key highlight, with the property being in the zone for well-regarded institutions. The central location in Forest Lake, with easy access to the city, Minogue Park, The Sugar Bowl Cafe, and Waterworld, adds to the appeal of this property, making it an ideal investment for those looking beyond the current damage to see the future value.

Updated on November 21, 2024