adding value to unique property

[arriety]

I have found an 'art deco' house in a lovely area going for auction. It is in original condition with jarrah floor and original wooden door and window frames etc. It really is very charming but is in original very good condition (has been painted about 2 years ago). It even has the original kitchen and bathroom. Usually these sorts of homes have the beautiful features painted over or covered in some way and you have to slowly restore but this is original.

My question is - is this the sort of property that some experts say will do well as it is 'unique' and desirable? If I could get it at auction at a good price and renovate the bathroom and kitchen (in a sympathetic style), and then rent it for a couple of years, it should increase in value shouldn't it?

Hope the link comes out, not sure how best to present it.


http://www.realestate.com.au/cgi-bi...&t=res&ty=&snf=rbs&ag=&cu=fn-rea&fmt=&header=

 

[plumtree]

I would find it hard to change anything! If the kitchen and bathroom are ok you might do best to restore the existing style rather than replace. This is realy only a house but what makes it distinctive is its art nouveau style. Retain all that you can and this house will always be desireable and more valuable because of this distinction.

 

[duncan_m]

That place is only vaguely Art Deco.. tends more towards "Austerity".. if you're looking for character I dont think you've found it.. a very subjective opinion though.. Be wary of posting your potential buys in here though.. I know its caused problems in the past..

Here's some recent sales for that little pocket of Lower Mitcham, the UBD reference with the 8 adjoing references are included so it's pulled in some of the other streets in surrounding suburbs that are close:

Valuation Number Sale Date Sale Price Sale Type Title Ref Address Suburb Postcode LGA Land Use Code Improvements Land Area Frontage Zone Rooms Equiv Area Condition Wall Roof Year built Style Sales Indicator
0802225009 19-07-05 $321,600 CT 5749-250 66 THE GROVE LOWER MITCHAM 5062 MITCHAM 1100 5H SHED 0.0750 16.46 R(CP) 5 141 5 RENDERED IMIT/TILE 1925 BUNGALOW
0801938007 10-08-05 $370,000 CT 5672-312 62 MURRAY ST CLAPHAM 5062 MITCHAM 1100 5H G CP 0.0736 17.98 R(CP) 5 110 7 FRST/STONE TILED 1956 CONVENL
0802056022 08-08-05 $435,000 CT 5936-620 LT 300 BUTLER AVE LOWER MITCHAM 5062 MITCHAM 1220 6H G 0.0433 10.76 R(CP) 6 166 8 RENDERED TILED 2004 CONVENL
0802197001 19-08-05 $340,000 CT 5725-742 13 VIEW ST LOWER MITCHAM 5062 MITCHAM 1100 7H G 0.0778 15.70 R(CP) 7 117 6 RENDERED TILED 1935 ART DECO
080223700* 26-08-05 $695,000 CT 5748-584 67 THE GROVE LOWER MITCHAM 5062 MITCHAM 1100 11H DG SP 0.0735 16.66 R(CP) 11 285 8 FRST/STONE GALV/IRON 2002
0802342053 25-08-05 $453,000 CT 5561-103 3 YULINDA TCE LOWER MITCHAM 5062 MITCHAM 1100 6HCP DIG SP 0.1180 22.56 R(CP) 6 141 8 BRICK TILED 1969 COLONIAL
0803014019 01-09-05 $551,000 CT 5176-980 64 WATTLEBURY RD LOWER MITCHAM 5062 MITCHAM 1100 6H DCP 0.0766 22.86 R(CP) 6 191 8 BRICK TILED 1965 CONVENL
0802124005 14-09-05 $300,000 CT 5314-541 17 MURRAY ST LOWER MITCHAM 5062 MITCHAM 1100 5H G 0.0724 18.29 R(CP) 5 102 5 RENDERED GALV/IRON 1950 CONVENL
0830527004 01-09-05 $585,000 CT 5105-447 40 EAST PARKWAY COLONEL LIGHT GARDENS 5041 MITCHAM 1100 6H 0.0655 15.54 SHA(CLG) 6 178 8 FRST/STONE GALV/IRON 1926 BUNGALOW
0802136006 16-09-05 $437,500 CT 5238-488 3 THE GROVE LOWER MITCHAM 5062 MITCHAM 1100 7H CP G 0.0680 15.24 R(CP) 7 136 5 FRST/STONE GALV/IRON 1920 BUNGALOW
083052900* 08-08-05 $175,000 OTHER LAND CT 5512-995 38 EAST PARKWAY COLONEL LIGHT GARDENS 5041 MITCHAM 1100 4H SHED 0.0658 15.54 SHA(CLG) 4 121 6 FRST/STONE GALV/IRON 1926 BUNGALOW
083005100* 23-09-05 $405,000 CT 5241-64 26 LINCOLN AVE COLONEL LIGHT GARDENS 5041 MITCHAM 1100 5H SHED CP 0.0946 20.12 SHA(CLG) 5 140 6 FRST/STONE IMIT/TILE 1926 BUNGALOW
0830072003 14-10-05 $590,000 CT 5746-838 15 EAST PARKWAY COLONEL LIGHT GARDENS 5041 MITCHAM 1100 7H DI/G 0.1051 24.38 SHA(CLG) 7 186 7 FRST/STONE GALV/IRON 1926 BUNGALOW
0830419003 10-11-05 $430,000 CT 5230-68 10 BROADWAY COLONEL LIGHT GARDENS 5041 MITCHAM 1100 5H G 0.0858 18.59 SHA(CLG) 5 118 6 BRICK GALV/IRON 1926 BUNGALOW
0830010005 06-12-05 $400,000 CT 5322-9 7 LINCOLN AVE COLONEL LIGHT GARDENS 5041 MITCHAM 1100 4H 0.0950 20.12 SHA(CLG) 4 130 5 BRICK SHINGLES 1926 BUNGALOW
0830539005 15-12-05 $470,000 CT 5532-657 18 EAST PARKWAY COLONEL LIGHT GARDENS 5041 MITCHAM 1100 6H SHED CP 0.0912 20.12 SHA(CLG) 6 175 8 FRST/STONE GALV/IRON 1926 BUNGALOW
0830569001 06-12-05 $311,000 CT 5753-539 14 PEMBROKE PL COLONEL LIGHT GARDENS 5041 MITCHAM 1100 4H G 0.0652 15.24 SHA(CLG) 4 105 5 BRICK GALV/IRON 1926 SB/BUNG
0830046008 16-12-05 $552,000 CT 5294-990 36 LINCOLN AVE COLONEL LIGHT GARDENS 5041 MITCHAM 1100 7H D/G 0.0635 IRREG SHA(CLG) 7 135 7 FRST/STONE GALV/IRON 1926 BUNGALOW
0830550001 26-10-05 $361,000 CT 5945-328 99 THE GROVE COLONEL LIGHT GARDENS 5041 MITCHAM 1100 4H SHED CP 0.0875 18.29 SHA(CLG) 4 116 6 BRICK GALV/IRON 1926 SB/BUNG
0802061008 01-02-06 $335,000 CT 5677-105 1 HAY ST LOWER MITCHAM 5062 MITCHAM 1100 5H DI/G CP 0.0744 IRREG R(CP) 5 97 7 BLOCK TILED 1955 CONVENL
0802482005 10-03-06 $355,000 CT 5841-79 6 YULINDA TCE LOWER MITCHAM 5062 MITCHAM 1100 5H G SHED 0.0689 IRREG R(CP) 5 122 5 FRST/STONE TILED 1950 CONVENL
0802040004 16-03-06 $404,000 CT 5863-845 54 MITCHAM AVE LOWER MITCHAM 5062 MITCHAM 1100 5H SHED CP 0.0689 IRREG R(CP) 5 122 6 FRST/STONE GALV/IRON 1920 BUNGALOW
0830521008 17-03-06 $470,000 CT 5314-475 50 EAST PARKWAY COLONEL LIGHT GARDENS 5041 MITCHAM 1100 6H SHED 0.0674 IRREG SHA(CLG) 6 150 2 BRICK IMIT/TILE 1926 BUNGALOW
0803009404 03-04-06 $176,750 CT 5614-623 UNIT 9, 77 WATTLEBURY RD LOWER MITCHAM 5062 MITCHAM 1310 4H/UNIT R(CP) 4 69 8 BRICK TILED 1970 CONVENL
0803009404 03-04-06 $176,750 CT 5614-623 UNIT 9, 77 WATTLEBURY RD LOWER MITCHAM 5062 MITCHAM 1310 4H/UNIT R(CP) 4 69 8 BRICK TILED 1970 CONVENL
0801937004 05-04-06 $320,000 CT 5829-206 60 MURRAY ST CLAPHAM 5062 MITCHAM 1100 6H I/G S/P CP 0.0634 IRREG R(CP) 6 120 6 BRICK TILED 1957 CONVENL

 

[arriety]

Thanks for that duncan,
judging by the 3 below, those 20s bungalows seem to have gone for around mid $300K in lower mitcham. that's what the agent predicts for number 61 but I would have thought low $400K. You should see the rubbish properties I've seen that have high $300k tags on them. The photos don't do 61 justice, it really is immaculate. At the open, there seemed to be alot of interest in it though, so expect the auction to be very competitive.

33100802225009 19-07-05 $321,600 CT 5749-250 66 THE GROVE LOWER MITCHAM 5062 MITCHAM 1100 5H SHED 0.0750 16.46 R(CP) 5 141 5 RENDERED IMIT/TILE 1925 BUNGALOW

0802197001 19-08-05 $340,000 CT 5725-742 13 VIEW ST LOWER MITCHAM 5062 MITCHAM 1100 7H G 0.0778 15.70 R(CP) 7 117 6 RENDERED TILED 1935 ART DECO

0830569001 06-12-05 $311,000 CT 5753-539 14 PEMBROKE PL COLONEL LIGHT GARDENS 5041 MITCHAM 1100 4H G 0.0652 15.24 SHA(CLG) 4 105 5 BRICK GALV/IRON 1926 SB/BUNG