Massive Price For Do-Up

  A do up in Avondale sells for $870,000

October 29, 2014
Greg Ninness  

15 Elm St Avondale


This house in Avondale sold for $870,000.

An old dunger of a house in the Auckland suburb of Avondale sold under the hammer for $870,000 at auction today.

Both inside and out, the house at 15 Elm St was pretty rough. It would have needed a full renovation to bring it up to what most people would have regarded as an acceptable standard, which would easily have pushed the price past the $1 million mark once the work was complete.

The property had a 2011 rating valuation of $520,000 and according to QV.co.nz it was last sold for $410,000 in 2007.
It had recently been rented out at $400 a week but was offered with vacant possession.

There were around half a dozen hopeful buyers bidding on the property when it was put up for auction at Bayleys Viaduct Harbour auction room and the auctioneer didn’t have to wait long for the opening bid of $500,000.

link:

http://www.interest.co.nz/property/72652/do-avondale-sells-870000

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