3 Stonehurst Avenue, Waiuku, Auckland - Franklin

Nestled on a generous 1209 sqm section at 3 Stonehurst Avenue, Waiuku, this residential dwelling boasts 9 bedrooms and a floor area of 150 sqm. Constructed in 1970 with durable brick walls and iron roofing, the property is in good condition both inside and out. It sits on a freehold title, ensuring full control and easy development. The property's capital value has seen a rapid increase of 34.43% from $610,000 in 2017 to $820,000 as of June 2021, demonstrating its investment potential. The latest sale history shows a transaction at $750,000 in March 2021, with a HouGarden AVM estimate of $800,000.

For families, the property falls within the zones of Waiuku College (Secondary, Decile 6) and Waiuku Primary School (Full Primary, Decile 5), ensuring quality education for all ages. This property presents a golden opportunity to complete three standalone houses, with the potential for attractive returns. The first home is already tenanted at $550 per week, while the other two have undergone major renovations and await final touches.

With the necessary tasks including water meter payments, development contributions, driveway concrete pouring, and subdivision to obtain three titles, this project is ripe for experienced developers. The current owners are motivated to sell due to financial constraints, making this an ideal opportunity for a quick turnaround with promising financial gains.

Updated on August 21, 2024