For me this home is all about the big picture - location is Beaconsfield Road - it has the view and rear access - it also has the traffic and noise.
Close to everything from beach to St Kilda to light rail to Armstrong St coffee shops. Location is not for everybody, however some of what it has, can only be obtained with this location.
To the home - I personally don't see a lot of value in the building, in the sense that some will see this as bulldoze.
However, it all feels solid and it is not really in need of anything. It has two highlights - the rear garaging and upstairs retreat. It would rent well and if you like the home, then really there is nothing serious to do now or in the immediate future unless you wanted to. Being picky - the view directly out may have tree issues in a few decades - but it doesn't feel a deal breaker issue.
So big picture - a very liveable and rentable home for a bigger family and if it goes in the $5m's, then an argument can be made you are getting a free house - which in turn means good risk and higher potential for good capital growth - if the overall market treats you kindly.
I'm not sure a serious renovation makes sense; meaning if you are going to spend $1m or more then perhaps starting again is a better option - yes it's more money but due to its width - its look - its wet areas placement and its room proportions, this home would in my opinion still have a feeling of compromise and at $7m, the buyers don't like compromises. Still that is just my opinion and the good thing is that for you, that is far from the most important one.
Another viable option is bulldozing - the neighbouring properties show you the options and the agent has stated there's nothing in the documentation which would prevent that. A few million well spent on a build does not feel like an over-capitalisation.
This property has flexibility - as is or complete rebuild - investment or live-in.
I like this home for many reasons - the best one being there are many reasons.
Your enquiry has been successfully submitted.
You will be hearing from us soon!
Please ensure that you have entered your name, phone number, email address and selected at least one of our services!
|
4
Bedroom
|
3
Bathroom
|
3
Parkings
|
480sqm
Land Area
|
|
| Floor Plan | Agent |
Sold - 2:00 PM Oct 14 2017 |
Quote $5,000,000 - $5,500,000 |
North Facing |
Your enquiry has been successfully submitted.
You will be hearing from us soon!
Please ensure that you have entered your name, phone number, email address and selected at least one of our services!
