Bargain Buying In Papanui?

8 Richards Avenue, Papanui

  • 3 Bedrooms
  • 1 Bathrooms
  • 1 Car Spaces
Listing ID IL2475

This could be an alternative to renting or the cheapest way to get on to the property ladder or perhaps start (or add to) your investment portfolio? Occupying a TC2 zoned Leasehold section of 806m2, this 1950’s 3 bedroom bungalow features an open plan kitchen and dining area, adjoining a sunny living room. The property has certainly seen better days but is quite liveable as it is, while scope exists to enhance both the house and the land it occupies. School zones include Waimairi, Cobham Intermediate and Papanui High.
The Lease term is 21 years (perpetually renewable) and the current lease ends on 30 June 2041. The Ground Rent is $15,600 PA, payable in quarterly instalments with rent reviews every 7 years. Rates (currently $2567 Per Annum) and insurance are additional.
Our owners have issued firm instructions for it to be sold either on, or before the scheduled auction date. Someone could be in for a bargain? Why not you?
But wait! There’s more: The Vendors will reward the successful purchaser with a $5000 Mitre 10 “Home Improvement” voucher to spend on the house!
Best you come and check it out…

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Land Size 806 sqm
Property Type House
Roof Tile and Concrete
Tenure Leasehold Details (Leasehold)
Approx year built 1951
Property condition Fair
House style Bungalow
Garaging / carparking Single lock-up
Construction Weatherboard
Joinery Timber, Aluminium
Flooring Carpet and Vinyl
Window coverings Drapes, Blinds
Heating / Cooling Heat pump, Gas bottled, Electric, Other (Gas fire; HRV system)
Electrical TV aerial
Chattels remaining Blinds, Fixed floor coverings, Light fittings, Stove, Heat pump, Curtains
Kitchen Original, Open plan, Upright stove and Finished in Laminate
Living area Open plan
Main bedroom Double and Built-in-robe
Bedroom 2 Double
Bedroom 3 Double
Main bathroom Bath, Separate shower, Heater
Laundry Separate
Views Urban
Outdoor living Garden, Deck / patio
Fencing Partial
Land contour Flat
Grounds Backyard access, Overgrown
Water heating Electric
Water supply Town supply
Sewerage Mains
Locality Close to shops, Close to schools, Close to transport
Auction 25 Sep 2020
Open Home Dates & Times
  • Sunday 20 September 12:30pm - 1:00pm

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