- A run-down house in Melville, marketed as a do-up or detonate, could sell for land value.
- The vacant property at 16 Normandy Avenue has a price indication of “better than $200,000” and is attracting interest.
- It’s being sold “as is, where is” with no warranties, highlighting renovation or rebuild potential.
A run-down house pitched as an ultimate do-up or bowler could be the cheapest buy in Hamilton when it sells under the hammer next week.
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The must-sell deceased estate at 16 Normandy Avenue, in Melville has a price indication of “better than $200,000” and is attracting first-home buyers, flippers, renovators and builders all keen to get stuck into the property and add value. Such is the interest that the auction has been brought forward to Monday, March3.
Harcourts listing agent Stacey Levien said the two-bedroom, one-bathroom home could well be the “best buy you’ve seen in Hamilton for a long time”. It could also sell for just land value.
The listing on OneRoof explains: “The family are under no illusion regarding the state of the buildings onsite and understand this could be land value only with the added expense of possible demolition of the dwelling and garage.”
There is only one section currently listed for sale on OneRoof in Melville at 59B Mount View Road, which is a 419sqm section with an asking price of $379,000.
A 1950s do-up on Paul Crescent, in Fairfield, attracted more than 20 bids and sold for $502,000 at auction this week. Photo / Supplied
The Normandy Ave home is being sold “as is, where is” and the buyer would have no warranties or guarantees. The home has been empty for at least several months, so the family disconnected utilities to the property for safety reasons.
“It’s being sold as is, where is so what you see is what you get.” This included some possessions that had been left behind and were still inside the home.
The listing photos show a property overgrown with trees and only a glimpse of the house itself.
There are currently no photos included in the listing of inside the property and Levien said that’s because people really needed to see it for themselves. The interior is in very original 1950s condition and needs a lot of work.
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Along with renovation potential, it was also possible to bowl and build a new home on the 617sqm site because Normandy Ave was a central location and close to the hospital, Levien said.
Just around the corner, another property in Melville pitched as the “ultimate do-up” managed to nab $552,000 when it was called at auction this week. It was one of three properties in desperate need of TLC that sparked competition in Lodge’s auction room on Wednesday.
The auction for the three-bedroom, one-bathroom home on Prisk Street, in Melville, opened at $300,000 and sold at $552,000, which was $118,000 below CV.
Lodge salesperson Sue Hall’s listing described the home on 756sqm as needing “some serious TLC”.
The same owners also sold another three-bedroom, one-bathroom do-up on Paul Crescent, in Fairfield, on the same day. The auction opened at $300,000 and the house eventually sold for $502,000, which was $88,000 below CV.
The 1950s home on a 753sqm section was pitched as being “ripe for transformation” and was marketed at renovators, investors, and first-home buyers.
This “ultimate do-up” on Prisk Street, in Melville, sold for $552,000 after attracting a mix of interest. Photo / Supplied
Both properties attracted more than 20 bids each before selling under the hammer.
A third do-up, also on Paul Crescent, that was aimed at someone with vision and determination to do the hard yards also sold under the hammer for $560,000.
Lodge managing director and auctioneer Jeremy O’Rourke said in the past few weeks there had been a lot of competition for do-ups both in and outside the auction room.
O’Rourke said they were seeing a “real mix” of flippers, investors, developers and first-home buyers fighting over these properties.
“It seems that the worse the property is, the more attention it’s attracting, and that hasn’t always been the case.”
At the end of last year there were run-down properties hitting the market and they weren’t getting any interest, he said.
“There’s definitely been an impetus in people recognising that they can add value if they are prepared to put in the hard work.”
Some of the do-ups had been put on the market because the long-term tenant was leaving and the landlord didn’t want to spend money on getting it healthy homes compliant so decided to flick it off instead, he said. Tenants were sometimes still living in these and didn’t want their personal items photographed, which is why some of these listings didn’t show interior photos, but in most cases viewings were available.
- 16 Normandy Avenue, in Melville, Hamilton, goes to auction on March 3
