An Auckland man and his family have made nearly $700,000 in profit in four years on a do-up in Mt Eden without making any major renovations.
The three-bedroom property sold for $1.395 million in December - 96 per cent above its $710,000 valuation, set in 2011. Described as a "north-facing liveable do-up", the house in St Leonards Rd had a floor space of only 119sq m, one bathroom and an extra toilet.
The man told the Herald he was a trustee of the family trust that sold the property.
It was bought in 2009 for $716,000 but sold at auction last month for $1.395 million - a profit of $679,000.
Barfoot & Thompson real estate agent Matthew O'Rourke handled the sale. He would not say what work was needed on the home but said it was "quite liveable as is".
