28 Margate Road, Blockhouse Bay, Auckland

Nestled on a prime section of 849 square meters in the heart of Blockhouse Bay, Auckland, this charming residential property on 28 Margate Road offers a unique opportunity for both homebuyers and investors. Constructed in 1950 with fibrous cement walls and tiled roofing, this freehold property boasts 96 square meters of floor area, with 3 bedrooms and 1 bathroom. The property presents an average condition both in walls and roof, inviting potential refurbishment ideas to bring it to modern standards. The capital value has seen a significant increase from $925,000 in 2017 to $1,500,000 as of June 2021, reflecting a growth rate of 62.16%. The HouGarden AVM estimates the property's value at $1,485,000, making it an attractive prospect for investment.

With a contour that's level and a massive, nearly fully fenced section, the property holds potential for further development in the Mixed Housing Suburban zone. It's a perfect canvas for new townhouses, subject to council regulations. The location is further enhanced by its proximity to the decile 1 Glenavon School and the decile 6 Lynfield College, ensuring quality education for the family. This is not just a piece of land; it's a rare opportunity with a rich history and immense potential, waiting to be seized.

For those who appreciate the charm of a bygone era, this property offers a chance to own a piece of history. With ample space for parking and gardening, it's a home that can grow with your family. The convenience of LynnMall and the nearby amenities of Blockhouse Bay add to the appeal. Don't miss your chance to join the property ownership race and secure this unique gem in a sought-after location.

Updated on November 04, 2024