88c Lorne Street, Morrinsville, Matamata

Positioned at 88c Lorne Street, Morrinsville, Matamata, this residential vacant lot boasts a generous 505m2 of freehold land. With no specified number of bedrooms or bathrooms, this property presents a clean slate for potential homeowners, be they empty nesters, retirees, first-time buyers, or investors. The site is complemented by a double garage and an additional non-consented Portacom, all set in a level contour. The property enjoys no covenants as per the title deed, offering freedom in design and construction. The latest government capital value assessment as of July 2021 is $325,000, while HouGarden AVM estimates it at $320,000. Notably, the property was sold most recently on September 21, 2023, for $279,000, indicating a potential growth opportunity for investors.

Historically, the capital value has shown a steady increase, making this section a sound investment. The absence of specified floor and land area measurements adds to the intrigue, with potential buyers advised to seek independent legal advice regarding these details. The property is situated in a prime location, with an easy walk to the Morrinsville Town Centre, enhancing its appeal.

For families with school-aged children, the property falls within the zones of Morrinsville College (Secondary, Decile 6), Morrinsville Intermediate School (Intermediate, Decile 5), and Morrinsville School (Contributing, Decile 3), ensuring access to a range of educational facilities with varying decile ratings.

Updated on August 29, 2024