Dual-Home Sunshine North ownership with subdivision almost complete fits at an auction, but agents say that buyers can unlock a windfall of $ 1.06 million with minimal final works.
A Sunshine North Duplex came to an auction on Saturday despite strong interest, but agents say that the right buyer could unlock a windfall with six digits with just $ 15,000 in work.
The real estate at 44 Ford Ave offers two stand -alone houses on a single title, with 95 percent of the subdivision work that has already been signed. Only the separation of water meter remains, the road cleared for two individually sellable properties with an estimated combined value of $ 1.06 million.
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With $ 800,000- $ 880,000 price heap, the set-up with double home 18 inspection groups, 12 questions and six contract requests but could not meet the reserve under the hammer.
Jim Christou of the Victoria Agency said that buyers circl the chance to rent both units or live in one while they sell the other.
“You have two complete houses here, both with their own kitchen, bathroom and living zones,” said Mr. Christou.
Double access from the front and side of the property makes separate use and flexibility for future owners or investors possible.
The bathroom of the second house includes a shower, bath and retro tiles, with the structure in clean, original condition.
“The front is already rented for $ 450 a week, and the back was kept empty for the sale, but that can easily match.
“That is $ 900 a week, with the chance to split the titles and to bank equity later.”
Unit 1 has polished wooden floors, a full-sized kitchen and a lounge with split zones for dining and life.
The front house has polished floors, separate lounge and eating zones and cooling of split systems.
The kitchen of unit 1 includes cooking gas and generous cupboards, with the house currently returning $ 450 a week on a flexible rent.
The rear house offers an equally spacious tiled layout, with light-filled bedrooms, retro bathroom and private-striking garden, ideal for multigenerational living, investors or resale.
“There is a real potential for stock growth here – whether you are holding both, selling one or she turns around, once subdivided,” said Mr. Christou.
“And the owner has already done the hard work. You get in with the finish line in sight.”
The vacant rear unit shows open life in open, a full kitchen and natural light, ready for immediate rent or resale.
A safe backyard with established fruit trees and lawn space offers extra attraction for tenants or future redevelopment.
Mr. Chirstou said that the low turnover of Sunshine North made comparable sales to find, but also reflected the stability and attraction of the area.
“It is a tightly detained suburb. As soon as people withdraw, they don’t leave – even tenants,” he said.
“We actually had more traction on this last winter, which is unusual, but I can feel the confidence of the buyers returning.”
The property remains available for private sale.
A functional kitchen with sufficient storage and cooking gas is central to the Sized Layout of Unit 2.
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