Tue. Sep 26th, 2023
    Tiny Cottage in Desirable Location: A Renovation Opportunity in Parnell

    This charming cottage located on Alberon Street in the sought-after suburb of Parnell is in need of some TLC. With a median value of $1.92 million in this exclusive inner-city area, renovating this property offers the opportunity to add value without over-capitalizing.

    The square-fronted villa has been owned by the same individual for the past 60 years. The original owner listed on the title is Emily Eliza Mackie, a widow. Built in the 1900s, this 74m² workingman’s cottage has great potential. While it may currently appear neglected, the property comes with the advantage of backing onto the picturesque Alberon Reserve, boasting one of New Zealand’s finest palm collections.

    The section is small, measuring just 253m², but it showcases a lush, leafy setting. Inside, the current configuration offers either three bedrooms and one living area or two bedrooms and two living areas. The kitchen and bathroom are situated in the old lean-to at the rear, facing north. The native timber flooring remains in good condition, preserving the character of the original structure.

    This property also features an undeveloped attic space accessible via stairs, providing further possibilities for renovation. Located within a Residential – Single House zone, the neighborhood ensures that no townhouses will be built on the property, maintaining its charm and exclusivity.

    The surrounding houses in the area are valued at well over $2 million, with some reaching values of $4.5 million and $3.83 million. This indicates the potential value increase once the property is updated.

    The auction for this property, situated at 7 Alberon Street, Parnell, is scheduled for September 13, 2023. With its desirable location close to the city, parks, and the waterfront, this cottage presents a unique opportunity for those seeking a renovator’s dream in a highly sought-after area.

    Source: Trade Me and Harcourts