Smelly, rundown shack nets $1m LAURA WALTERS - TopicsExpress

Smelly, rundown shack nets $1m LAURA WALTERS November 19 2014 ( The value is in the land as always) 36 Bradford Street Parnell The latest wreck the hit the Auckland property market has sold for $1 million dollars. A barely-liveable wreck in one of Aucklands hot suburbs has been snatched up for a $1 million. Theres no question this weatherboard home with, chipped paint, peeling wallpaper and a borderline rotting deck is a fixer-upper. While $1m seems like a fortune for the rundown city-fringe home, it went to a sole bidder for $70,000 under its new CV. The bidder obviously saw potential in the home that others missed, with their offer being lodged this afternoon, before the auction was due to place. The property was recently valued at $1.07 million, a 46.5 per cent increase from its 2011 CV of $730,000. Like many other Auckland properties the home saw a huge jump in value after Auckland Councils recent rates revaluations. Link: stuff.co.nz/life-style/home-property/63341837/smelly-rundown-shack-nets-1m.html

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