Yahoo Finance ‘Drive by only’ Sydney house sells for $1.35m
Collapsed roof, boarded up and still worth over a million dollars.
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.
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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