- A three-bedroom villa in Ponsonby's "Six Sisters" is heading to auction with a reserve under $1.3m.
- Owners, living in Melbourne, are motivated to sell after owning the property for 12 years.
- The home needs a cosmetic refresh, attracting interest from builders, renovators, and first home buyers.
In a suburb where dumps can cost more than $2 million, a three-bedroom villa is heading to auction with a declared reserve of less than $1.3m.
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The home at 127 John Street, in Auckland's Ponsonby, is one of the sought-after “Six Sisters” and has been pitched to "builders, renovators and interior designers with vision".
Ray White listing agent Georgina Munro told OneRoof that the owners lived overseas, in Melbourne, and were "realistic” about price, hence the low reserve.
The villa - one of the landmark Six Sisters - is well presented but needs an upgrade. Photo / Supplied
The vendors are realistic about price, the listing agent has said. Photo / Supplied
“We have motivated vendors who want the property sold. They have owned it for 12 years," she said.
"They initially purchased it to be a family home, which they were going to renovate and extend, but a job opportunity meant that they've remained overseas."
She added:“It has been a really successful rental for them, but it's time to sell it, and they're absolutely prepared to meet the market."
Records show the vendors bought the house in 2010 for $780,000. They listed it for sale in 2024 and again at the start of the year, but didn't get any bites. The current RV is $1.775m.
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Munro said: “It hasn't been upgraded in some time and it's due for a cosmetic refresh. Potential buyers were talking about putting in a new kitchen and bathroom. Some are talking about changing the layout to extend the property.
“We've had families wanting to live in the area through to first home buyers, renovators, and those actually overseas who want to return home to Ponsonby and call it home. We've had great traffic through the property, and with the declared reserve option we're expecting a result.”
Fellow Ray White agent Jason Trowbridge, who's been selling real estate in Ponsonby for over 30 years, said bargain and Ponsonby were two words rarely seen in the same sentence. “It is the first time I have seen something offered at this sort of level for many years. I would be buying at $1.3m. I think this is a rare opportunity.”
One of the three bedrooms has a balcony. Photo / Supplied
One of the neighbouring “Six Sisters” homes managed to fetch $3.365m at the height of the market in 2021, highlighting the potential of 127 John Street. “That was renovated from the ground up really, and it's got three bedrooms, the master with a large walk-in robe and they've put in garaging beneath, landscaped and extended,” Munro said.
And a four-bedroom, four-bathroom home on John Street, Ponsonby, recently sold for just over $6m.
Bargain-hunters also have the option of buying a 96sqm home on neighbouring Fitzroy Street on Thursday. That home, billed as one of Ponsonby’s skinniest, comes with issues, though. Barfoot & Thompson listing agent Carl Madsen told OneRoof that the three-bedroom house at 4a Fitzroy Street has watertightness issues and would likely be demolished by its new owner.
- 127 John Street, Ponsonby, Auckland, goes to auction on July 23
