It’s an ‘affordable’ villa — but BYO bathroom
It’s being billed as the “most affordable” way to buy a character villa in Auckland’s sought-after inner suburb of Grey Lynn.
But despite a future buyer potentially needing to splash as much as $2 million for the Ariki St home, according to online property valuation sites, they would still have to bring their own bathroom.
Marketing photos show the empty three-bedroom home already stripped back to its bare bones with what appears to be a torn-out space where the bathroom once was.
Whether the house will fetch near $2m at auction on July 15 is unknown, given it is not in an area zoned for apartment development and a future
This Grey Lynn villa, to be auctioned, has been stripped back to its bones.
buyer would likely need to spend serious money doing the place up.
That appeared to make the home both affordable and a handful at the same time.
“Lacking a bathroom and in need of urgent renovation, make no mistake 39 Ariki St is the most affordable character entry to home ownership available in Grey Lynn,” the home’s advertisement stated.
“Don’t underestimate just how much of a do-up this property is,” Barfoot & Thompson agent Ryan Harding said in a promotional video.
Property listing website OneRoof estimated the 1920s bungalow to be worth about $2.3m.
Its 2017 council valuation stood at $1.7m. Other sites had the home’s estimated value slightly lower, around $2m.
OneRoof noted recent sales in Grey Lynn had been on average 27 per cent higher than the home’s council valuations at a time when Auckland prices were booming.
“This property has been in the family for over 60 years. It is time to pass the keys onto someone else who can truly unleash the potential of this property,” the Barfoot & Thompson promotional material stated.
And in case the future buyer needed help finding inspiration and tools for their new bathroom, the marketing material signed off with a helpful tip.
“PS: Bunnings is just up the road!”