7 Mackay Street, Wanaka, Queenstown Lakes

Nestled in the heart of Wanaka's coveted Golden Triangle, this 3-bedroom, 1-bathroom residential dwelling at 7 Mackay Street offers an entry-level opportunity on a freehold site. Constructed in the 1970s with concrete walls and an iron roof, the property maintains an average condition with a floor area of 89sqm and a land area of 550sqm. The capital value has seen a significant increase from $700,000 in July 2017 to $1,040,000 as of September 2021, reflecting a growth of 48.57%. The property is a mere 200 meters from the lake and 1500 meters from the town center, providing a serene view that hints at its redevelopment potential. The latest sale history includes transactions in 1996 and 1991, with the current HouGarden AVM valuing the property at $995,000. The location is further enhanced by being in the zone for Wanaka Primary School, a contributing school with a decile rating of 10.

With a cozy living room featuring a view of the lake and a wood fire for the winter months, this crib has been the site of many cherished family holidays. It's now ready for a new owner to enjoy its retro charm or to capitalize on its prime location. Whether as a first home, a holiday retreat, or a development opportunity, this property holds outstanding potential. The auction is set for the 11th of April 2024, unless sold prior, so act now to secure this rare gem in Wanaka's thriving real estate market.

Being in the catchment area of highly-rated Wanaka Primary School adds to the appeal of this property. The school's decile rating of 10 reflects the high standard of education in the area, making it an ideal choice for families.

Updated on April 11, 2024