304 Glengarry Road, Glen Eden, Auckland - Waitakere

Nestled in the serene Waitakere foothills on Glengarry Road, this freehold property presents a versatile canvas for renovation or development. Comprising 5 bedrooms, 2 bathrooms, and a single carpark, the 100m² floor area is complemented by a spacious 1260m² land. Constructed in 1950 with wood walls and an iron roof, both in average condition, this property's potential is amplified by its easy-to-moderate contour. The government's capital value has surged by 51.6% from $775,000 in 2017 to $1,175,000 as of 2021, with HouGarden AVM estimating it at $1,125,000. The latest sale history shows a transaction at $1,200,000 in 2022 versus $362,000 in 2003. Educationally, the property falls within the zones of Bruce McLaren Intermediate School (Decile 2), Oratia School (Decile 9), and Henderson High School (Decile 3), ensuring quality education for the family.

For the visionary, this property offers a unique proposition. Whether it's rezoning into separate titles or utilizing the existing space, the possibilities are vast. The front building, once a winery warehouse, and the rear building, with potential for conversion, add to the allure. As the market prices for three-bedroom homes in West Auckland range from $770,000 to $880,000, this property at $990 per square meter is an attractive investment opportunity.

With a motivated vendor open to negotiation, this is your chance to secure a stake in a property that could yield significant returns in the future.

Updated on October 22, 2024