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‘Drive by only’ Sydney house sells for $1.35m

Collapsed roof, boarded up and still worth over a million dollars.

A rundown house
A rundown house Sydney’s inner-west sold above the city's median home vale. (Source: Domain)

A dilapidated Sydney home you couldn’t even set foot inside has sold for $1.35 million.

The four-bedroom, one-bathroom house at 78 Alfred Street Annandale has a collapsed roof, broken front door and boarded-up windows, with sections of the property fenced up behind metal gates.

The ramshackle condition of the deceased estate was not open for physical inspections, with homebuyers encouraged to do a “drive by” to view the property.

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Listing agents BresicWhitney Inner West said the property offered a “knockdown and rebuild” opportunity and described it as a “blank canvas” to build your dream new home.

The backyard appears to be overgrown and filled with junk.
The backyard appears to be overgrown and filled with junk.
The front gate and front door are broken, and there are boxes of clothes near the entry.
The front gate and front door are broken, and there are boxes of clothes near the entry.

Listing photos show a broken front gate, boarded-up front door, along with numerous boxes of clothing that have been covered by a tarp.

The home attracted attention from developers given its corner block positioning, however an owner occupier from Sydney bought the property for $1,350,000 on the weekend at auction.

That’s above the median home value in Sydney, which Corelogic reported hit $1,110,660 in September.

Houses in the inner-west suburb have a median price of $1,975,000, according to Domain.

The condition of homes in Sydney do not appear to be deterring buyers.

An overgrown terrace house in Redfern sold for a whopping $3 million in June. The property was completely covered by plants after years of neglect.

Meanwhile, in West Ryde, an 'uninhabitable' three-bedroom, one-bathroom house sold for a staggering $1.88 million.

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