Avenues Worst House Best Street...

To say that this 822m² flat site with two street frontages is under capitalised is a gross understatement. The improved value is 0.8% of the capital value.

To be fair the original single bedroom house with sitting room, sun porch, living room, wash house and bathroom did start its life in 1936.

The addition of two more bedrooms has provided a popular rental in this central location.

Paint, paper, carpet, drapes and sweat equity would maximize the rental income. However you need only look over the fence to see what will maximize the value of the site.

There is a captive buyer market for new easy care homes in this "flat walk to shops and service" location.

Here now is the site.

PROPERTY INFORMATION MEMORANDUM

Legal Description: Lot 4 DPS 18119
Capital Valuation: $610,000 (2006) $525,000 (2009)
Land Valuation: $605,000 (2006) $520,000 (2009)
Rates: $1,956.51
Exterior Construction: Weatherboard
Roof: Corrugated Iron
Joinery: Wood
House Style: Bungalow
Section Area: 822sqm
Age: 1936
Aspect: Northerly
Bedrooms: Three