87 Terry Street, Blockhouse Bay, Auckland

Nestled in the serene cul-de-sac of 87 Terry Street, Blockhouse Bay, Auckland, this 1954-built residential property offers a promising investment opportunity on a flat 905m2 section with road frontage. The freehold property, characterized by its iron roof and wooden exterior walls, in average condition, comprises of 3 bedrooms, 1 bathroom, and a cozy living space of 93 square meters. The property's capital value has seen a remarkable increase of 72.57% from $1,130,000 in 2017 to $1,950,000 as of June 2021, showcasing a strong growth potential. The HouGarden AVM estimates the property's worth at $1,867,500, making it an attractive prospect for developers or those looking to secure a strategic land banking opportunity.

Recent market activity suggests this prime section won't stay on the market for long, especially given its proximity to highly-rated schools such as Blockhouse Bay Intermediate and Lynfield College, both with decile ratings of 5 and 6 respectively. The property is set for auction on Wednesday 10 April 2024, unless sold prior, presenting a unique chance to secure a slice of this vibrant community.

With its north-facing orientation and ample sunshine, the home has been a cherished family residence for over four decades. It features a combined kitchen and dining area, a separate lounge with a wood burner, and three generous bedrooms with storage space. The potential to restore this 1950's weatherboard home to its former glory is an opportunity not to be missed.

Updated on April 12, 2024