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REDUCED! See the Big Picture in this Bargain-Priced Masterpiece

REDUCED! See the Big Picture in this Bargain-Priced Masterpiece

$319,950

  • Bedrooms: 2
  • Bathrooms: 1
  • Area: 82
  • Type: House

Contact Chris McGregor

3 Wilma Crescent, Russell Island QLD 4184 View on map

Type: House

Let’s get straight to the point, this is no pretty picture. Mona Lisa has lost her smile. But what an opportunity to restore a masterpiece!

There’s only two options here:
1. Renovate – serious work involved, but good bones
2. Detonate – easy choice, as you’ll start with a clean slate

THE RENOVATION PATH

If you want to restore a smile to this once happy place, it will require a lot of time and effort, not to mention money.

However, looking at the positive features, there’s plenty of quality assets to work with:

  • Large 809m2 block
  • Lock-up garage (at rear)
  • Studio with makings of a granny-flat (water & power connected)
  • Proximity to ferry & shops (5-minute walk)
  • 2-bedroom home already generating income
  • Timber floors
  • Retro 70s vibe (built-in robes, amber glass-doors, light fittings)
  • Good footprint to reconfigure rooms
  • Decks front & rear
  • Established gardens with a bore & tank for watering

Still keen to renovate? Be warned, there’s some major cosmetic-surgery required, which won’t come cheap:

  • Replace asbestos roof & integrated gutters
  • Re-line ceilings to remove black-mould (the roof leaks!)
  • Detonate the bathroom
  • Demolish the kitchen (could salvage the new freestanding cooker)
  • Improve converted sunroom
  • Install new windows & doors
  • Service the septic system & trenches
  • Maintain timber decks (or replace)
  • Paint inside & out
  • Repair paths & driveway
  • Landscape to soften the look

Don’t be scared-off, as it’s not impossible to make her the darling of Wilma Crescent. Just bring your A-team with you and have the courage to persevere.

Probably the quickest way to restore this masterpiece, would be to knock it down and rebuild.

THE REBUILD PATH

Looking at the knock-it-down-and-rebuild approach, you can be assured of a few things:

  • Wide 809m2 site allows for many designs & a granny-flat
  • Power & water already connected
  • Lock-up garage for storing materials
  • Fencing in place
  • Established trees on perimeter
  • Septic could be enhanced or install new one
  • Demand for properties close to town are always high
  • Almost 20m frontage x 40m depth
  • Cost for build known upfront
  • Fixed time to complete (depends on contract terms)

Calling all owner-builders or savvy developers, you could really make something special here and perhaps create two dwellings (subject to Council approval) to maximise your investment.

Of course, there’s always a third option. Do nothing at all and just land-bank!

THE DO-NOTHING PATH

Some of the renovations will be unavoidable with new legislation coming into play for minimum housing standards for tenants. But, if YOU want to live in the home while you consider your options, that’s your choice.

The house as-is, is liveable and a basic makeover would suffice in the short-term. Currently, the property presents as:

  • Besser-block, fibro & Hardiplank construction
  • 2-bedrooms, 1-bathroom
  • Original kitchen with new cooker
  • Polished floors in living & bedrooms
  • Basic bathroom, separate toilet
  • Screened-deck at rear with access from both bedrooms
  • Formal living & dining (used as an office)
  • Closed-in verandah for casual living
  • Timber decks, front, side & rear
  • Off-street parking for vehicles & lock-up garage with side-door access
  • Shed with laundry facilities & storage
  • Water-tank, bore, clothesline & NBN

Being close to all island amenities is a huge bonus and walking-distance to the ferry is almost unheard of, now. Russell Island is a great place to live and you’ll soon learn why. Life is easy here and commuting over water, makes everything seem better.

If you want to see Mona Lisa smile again, make the right decision and you could end up with a masterpiece.

And remember, her eyes don’t move, but property prices do. So, call Chris McGregor on 0420 555 997 to inspect this amazing opportunity.

Property Features

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Assigned Agent

Chris McGregor
Principal
"EXPERIENCE, EXCELLENCE & RESULTS." Chris started his real estate journey in 1994 managing a portfolio ... Read more

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