Sandringham: A different vision

A couple who went without luxuries to invest in real estate had a long-term plan.

8, 10, 12 Hardley Ave & 16 Haig Ave, Sandringham.

Back when their mates were splashing out on their first-ever colour televisions, the Carson family went in for a different type of investment.

In 1976 Richard and Sandra Carson stretched the family budget to buy a curvy old block of four art deco flats. Thirty years and about 40 tenants later, they're cashing up their first rental venture.

They admit they were real estate novices when they brought the brick beauties, signing up for the first property their agent rang them about. Sandra says the architecture wasn't a big draw card. Back then people didn't really appreciate art deco. But the building looked solid and was bringing in the princely sum of $28 rent per two-bedroom unit.

At the time it was a big decision to invest in a property costing five times as much as their family home. Not to mention a big time commitment - you would often find Richard and Sandra at the flats doing maintenance work, sometimes with their four kids snoozing in the van.

Many of their fond recollections revolve around their tenants, who seem to have spanned every imaginable age group and length of stay, including a charming septuagenarian who has been there 20 years. And there was the tenant who had been growing pot in the ceiling, recalls Richard, grinning as he remembers back two decades to the man who left his cultivation set-up in the roof when he moved out.

Thank goodness for the resident who politely rang them one evening to say, ``I think the flats are on fire''. The fire brigade put out a slow-smouldering fire in the wall that had spread, caused by painters using a heat gun.

Thanks to their location on the corner of two streets, each flat has its own street address and street frontage, with quaint front verandahs perfect for a cup of tea in the sun. Each has a front living room, two bedrooms, a bathroom and a kitchen that accesses the rear lawn. The Carsons upgraded most of the kitchens and replaced two outside washhouses with laundries in the bathrooms.

Richard will be particularly sad to lose the deco triple-garage he used for storage for his plumbing business and treasures - with tenants parking off-street in front of it.

The block is being sold as one lot with one title with vacant possession. The most recently rented flat earns $270. The couple think future owners may subdivide it into four home units, adding French doors flowing to separate private courtyards. There is space to add a single garage to supplement the triple, which would give each flat its own garaging.

They had thought of doing this themselves but have decided to sell to allow them to travel as they reach semi-retirement.

Richard will also be turning his attention from one character-filled classic to another. He plans to restore his grandfather's 1959 Humber 80, which has been waiting up on blocks in his beloved garage.

VITAL STATISTICS

BEDROOMS: 8

BATHROOMS: 4

GARAGES: 3+

SIZE: Land 835sq m, flats approximately 252sq m.

PRICE INDICATION: Interest expected above $1 million. Auction June 24. Will not be sold prior.

INSPECT: Sat/Wed 4-4.30pm, or by appointment.

ON THE WEB: www.barfoot.co.nz/342299

CONTACT: Paul Hodgman, Barfoot & Thompson, Royal Oak, ph 625 6099 bus, 021 970 191 mob, 825 0005 a/h.

FEATURES: Classic art deco block of 4 x 2-bedroom home units on the market for the first time in 30 years. Level corner section with garaging and ample off street parking.