5 WAYS TO PROFIT FROM THIS OPPORTUNITY UP TO $500K

Listing Number:  1176
Posting Date:  16 September 2008






 
Price:$750,000
Listing:5 WAYS TO PROFIT FROM THIS OPPORTUNITY UP TO $500K
Type:House : Subdivision Potential
Category:Private Sale
Bedrooms:3
Bathrooms:1
Region:Auckland
Site Area: 
Address: Login
Building Area:1348 m2
Property Image

Description:

Here's a fantastic opportunity with several options:

1. Do-up the house and keep\land-bank the 1348m2 (6A zone) section for future growth.
Council Valuation as is (Aug 08) $900,000

2. Do-up the house on 722m2 and subdivide off one 463m2 (net) section. Valuation (Sep 08) indicate these would be worth $580,000 and $340,000.

3. Move the house on the site and renovate and subdivide off 2 sections each of 401m2 and 402m2. Valuation (Sep 08) indicates these would be worth $480,000, $285,000 and $285,000.

4. Demolish the house and have 3 sections valued (Sep 08) at $340,000, $285,000 and $285,000.

5. Build new houses and keep for long term rentals - great location. New 4brm\2bth houses would rent for $700 each.

Existing house is 3brms, 1 bthrm with very large living areas. Could be easily turned into 4 brms\2bthrms.
Very tidy and liveable as is. Kitchen and bathroom could do with improvement and outside could do with a tidy up but hey - look at the profit potential!

Very quiet peaceful site.

Site has existing r.o.w over adjoining driveway so none of this land is required for driveways.

Live in the house while you build a new one on site. Valuer has indicated a new 4brm\2bth house on one of the new sections would be worth $720,000

Buy now under valuation in a great central location poised for gentrification in the next boom.


Build 2 new houses and sell the existing one to increase equity by over $500,000 and have 2 new, low maintenance cashflow positive properties in a fantastic central location.

We can manage the subdivision\construction process for you if necessary.


Will consider trade\swap for other property.


Additional Documents:

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Description: Scheme Plan
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