170 Parker St, Kingswood, Sydney

Ajax

Ajax

Just inspected this at Kingswood (near Penrith).

170 Parker Street Kingswood (The Northern Road off the Great Western Highway becomes Parker Street).

http://www.realestate.com.au/cgi-bi...r=&cc=&c=56608041&s=nsw&snf=rbs&tm=1212647083

Its a mortgagee in possession auction (RHGL "bless their hearts" previously RAMS)

Agent expects around 200k. I have my doubts.

Swimming pool overflowing (yes there is a swimming pool)

Contract states can not locate a sewerage diagram for the property

Bathroom contains a bath (that's it no tiles no basin hot water doesn't seem to be attached as a hose pipe runs from inside the roof to the bath).

Lots of nicotene stained walls and ceilings. Sweet sickening smell of cockroaches. Also a farm shed smell (have smelt before) from rats or mice nests.

Quite a few timber boards missing from the outside. One brick foundation cracked and sinking with result that corner of house starting to sink too. Very wet back yard with water not draining properly.

Lot of traffic noise at front of house (on main road). Building eaves extend over the fence line by 0.2m.

Would appreciate comments from others who have done these type of places up. I know Skater and her husband are active in this market and have tackled some difficult reno's and made them work. Would probably cost 50k minimum to fix up without sorting out whatever is happening with plumbing, sewerage, stormwater and swimming pool (not sure if this is compliant with council regs). Its at this point I have walked away from the deal.


Ajax
 
Last edited:
Ajax,
Sounds like a lot of work to me.
Did they give you an idea how much they want for it?
I am not familiar with kingswood is it near the uni?
Cheers
 
Ajax said:
Agent expects around 200k. I have my doubts.

Swimming pool overflowing (yes there is a swimming pool)

Contract states can not locate a sewerage diagram for the property

Bathroom contains a bath (that's it no tiles no basin hot water doesn't seem to be attached as a hose pipe runs from inside the roof to the bath).

Lots of nicotene stained walls and ceilings. Sweet sickening smell of cockroaches. Also a farm shed smell (have smelt before) from rats or mice nests.

Quite a few timber boards missing from the outside. One brick foundation cracked and sinking with result that corner of house starting to sink too. Very wet back yard with water not draining properly.

Lot of traffic noise at front of house (on main road). Building eaves extend over the fence line by 0.2m.

Would appreciate comments from others who have done these type of places up. I know Skater and her husband are active in this market and have tackled some difficult reno's and made them work. Would probably cost 50k minimum to fix up without sorting out whatever is happening with plumbing, sewerage, stormwater and swimming pool (not sure if this is compliant with council regs). Its at this point I have walked away from the deal.


Ajax
Click to expand...

Ok Ajax, my thoughts on this.

We have done a few reno's but all of them were able to be done by us, with little input from Tradies (Hubby is a sparky by trade and can do most things).

The major things I see are:

No sewerage diagram available, plus there seems to be an issue with drainage at the property.

If you can't do it yourself, fixing the bathroom is going to cost an arm and a leg.

Cracked sinking foundation.

As for the agent expecting around $200, well he's dreaming big time and probably talking the property up. That might be what he wants for it, but I would be seriously below that figure.

I wouldn't be walking from this deal, I'd be running.
 
Thanks for your input Skater. I've already dismissed it. Can't believe the contract contains this

Letter from Sydney Water To whom it may concern

"...(we) advise that a Sydney Water sewer main is available to serve this property

Sydney Water aquired the Penrith sewer system from Penrith Council in 1988. At that time no records in relation to house services were transferred for the above property. Further, there are no records of any subsequent work having been approved by our inspectors and as such no diagram is available for issue at this time"

Didn't see a septic tank but I did flush the toilet...maybe this explains the soggy section in the backyard???
 
i would stay away from it unless it goes hella cheap.
sounds like a lot of work to fix and a lot of unapproved work has been done to this place.

best bet is to konck it down n start all over if you were to do anything.
 
Thanks for the replies,

I saw Gav and Wazza in "The Block". If they can renovate a flat in Bondi...in their underwear...then I can renovate a house in Kingswood (just kidding).

Will give the Kingswood place a big miss.


Ajax


"The Kingswood, you're not taking the Kingswood...I just polished the battery"
 
I used to live in Kingswood, and I get depressed just driving past it on the Great Western.

I can't see it turning around anytime soon I am afraid.
 
Last time i was down there (about 18 months go) i had to dodge a few discarded syringes and empty long necks on the footpath in the shopping strip on the Great Western Highway. Not much fun, especially considering i had my kids with me.

Kingswood Country indeed:D
 
even ignoring that the property is in Kingswood (the home of western sydney's largest drug detox centre)..... i would still be running from that deal.

Remember, many books tell us to renovate for minimal cost and maximum perceived value effect.
That means avoid structural problems and high cost renos - unless the deal has that cost plus 20% extra buffer in it (thats my figure).

This Kingswood place just has too many high cost repairs attached to it, which wont really ADD value - they will just bring it back to where it should be.

Plenty more properties available around the $200k mark in surrounding suburbs, with much less work required to get better results than what you can achieve in mighty ole kingswood.
 
last registered sale back in 1988 .......................

HPI on that basis is 228, that is, its been kept in good nick

BUT from waht you are sayng they will be lucky to get mid 175s for it, because they will need to have close to a cash buyer.

ta
rolf
 
You must log in or register to reply here.
Back
Top