13 Harrison Road,
MOUNT RICHON

4 Beds
1 Bath
4 Cars
Sold $375,500

INVESTORS OPPORTUNITY

***UNDER OFFER BY BEN MATHEWS***

Check out this sensational investors opportunity! It's a tri level home on a 1012sqm block in one of the most sought after streets in Mount Richon. Whether you are a serious builder/renovator looking for a large project or an ambitious owner occupier looking to renovate, add value and build in equity this property has options and is loaded with potential.

INSIDE THE HOME
The internal of the home is in very worn out condition with maintenance having not been kept up over the years and sporadic renovations started, currently the property is only semi livable with most services functioning however would need significant upgrades to live in or input tenants.
The home is tri level. The bottom level has a lovely living area with fireplace zone connecting with the kitchen/dining space with the kitchen having money already spent on it being partially renovated. Adjoining the kitchen is the butlers pantry/laundry and second toilet zone which has potential to create a huge value add as a second bathroom space. This downstairs level has beautiful timber ceilings and with the fireplace and outlook to the external vistas it's loaded with character and potential.
There are two good sized bedrooms to the middle level which is where the formal entrance door is located.
The massive master suite is situated on the top level with an awesome adjoining balcony and views down the mountain. This room has walk in robes. There is a second bedroom on the top level also.
The big bathroom is also on this top floor and requires extensive renovations.
There are solid timber floors in this home which look beautiful and add to the character.
There is a double secure garage under the main roof with electric roller door access in working order. This garage space also has a shoppers entrance door through to the main house.
The bottom line for this property is that it is extremely worn out and requires a massive amount of work. It requires a very experienced renovator with a massive appetitive for a large scope of works and a complete strip out and re build. However after this work is completed the potential is immense and this property could provide a very lucrative return on investment. As a reference point of value refer to the "INVESTOR DETAILS" section below.

OUTSIDE THE HOME
From the road the house has an appealing façade. The property is a 1012sqm block with Residential R15/25 density zoning which holds possibilities for retaining and subdivision subject to council approvals. There is a large pool leading out from the ground floor living area of the house and that you also look out to from the balcony upstairs. Below the pool area is more land. The block has potential for side access to be created and could be used for all manner of options.

INVESTOR DETAILS
As a comparable price for your calculations on the 1st of June 2021, I sold 27 Harrison Road Mount Richon which is a few house up the same road. This sold for $520,000 cash within 2 weeks with 25 groups through to inspect. This was a virtually identical size block (27 Harrison), it was single level house and a small 3 x 1 layout however was immaculately presented and in lovely condition. This property now for sale (13 Harrison) being a much larger home on a similar block once renovated would expect to exceed this price that 27 sold for fairly easily conservatively subject to market conditions. You do the math's, this one's a no brainer! Mount Richon historically has always been a highly desirable area locally and ranges in values of up to over 1 million dollars for some of the top end properties. In this current extremely active current market it's remained as hot as ever with no signs of slowing. If you have the ability, and appetite for some serious work the opportunity here is immense.

WHERE IS IT LOCATED?
The property is located in the highly sought after hills of Mount Richon, nearby to shopping facilities and local schools whilst being only approximately 37km from the Perth CBD.

SELLING CONDITIONS
This property is being sold "AS IS WHERE IS" and this will be noted on the contract. For your reference the plumbing and electrical is in good working order.

WHAT TO DO NEXT
Hit the contact agent section now and make your time to view the property in person, in this hot market properties with this combination of quality, location and price do not last!

Features

  • Land is 1,012m2

Mount Richon Suburb Profile

Explore prices, growth, people and lifestyle in Mount Richon
Discover Mount Richon

Property Resources