Derelict home in Sydney’s inner west sells for $1.3 million

·

A derelict home in Marrickville in Sydney’s inner west has shocked buyers by selling at auction for more than $1.3 million, The Sydney Morning Herald has reported.

The home has been named a ‘house of horrors’ as it has not had any renovations since its original purchase in the 1960s. 

The four-bedroom deceased estate had fourteen potential buyers over the weekend, despite the fact the home had rotten flooring, falling ceilings, and an inoperable kitchen and bathroom.

Picture by Julian Andrews.

Dean Vasil of Ray White Earlwood was the selling agent for the property and said that most of the buyers were interested in the property for the land value and taking advantage of the current market downturn. 

“It was a great auction. The competition was unbelievable,” Mr Vasil said. “We were very surprised by the price, but even more surprised by the level of interest.”

Auction at Marrickville property. Picture: Julian Andrews

Mr Vasil’s team had advised visitors to stay in the hallway as it was the only stable part of the floor. 

“You could not walk through the whole house. You had to be very careful,” he said.

The most realistic estimate, according to co-agent Kieran Gianoudis, was at least $500,000. He said that it was hard to determine exactly how much money would need to be spent on a repair.

“Pretty much everything needs redoing. The brick, the walls, the floors,” he said. 

Source: Sydney Morning Herald, RealEstate.com

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Over $45,000 raised to make Pontian House accessible for all

A total of $45,476 has been raised by Pontoxeniteas NSW at its Winter Wonderland Gala 2025 to install a platform lift at the Pontian House.

Star Pharmacy Group CEO Peter Piliouras takes on Chemist Warehouse in expansion plan

Peter Piliouras, CEO of Star Pharmacy Group, is aiming to double the group’s chain, taking on industry giant Chemist Warehouse.

Landlord Margarita Constanti Salamakis taken to court as bakery owner fights eviction

Margarita Constanti Salamakis is facing legal action in NSW Supreme Court after issuing an eviction notice to Marrickville bakery Miss Sina.

Mario Alexandridis at centre of Strike Force Candice raids across Sydney

Low-profile entrepreneur Marios Alexandridis has been charged in a major money laundering and unexplained wealth investigation.

SA seafood heir Sarantis Parissos jailed over police hit-and-run

Former professional footballer and seafood heir Sarantis Parissos has been sentenced to over six years in jail after a series of offences.

You May Also Like

Altar at St Dimitrios Greek Orthodox Church in Beirut survived the explosion [VIDEO]

The altar of St Dimitrios Greek Orthodox Church in Achrafieh survived the explosion unscathed - even its oil lamp stayed lit.

Tsitsipas brothers fail to make an impact at Wimbledon

Petros and Stefanos Tsitsipas were outmatched on Friday in the Wimbledon Gentlemen's Doubles, defeated by British No. 2 Cameron Norrie and Spain's Jaume Munar 7-5, 7-6(5).

Former Director of Public Prosecutions, Stephen Pallaras QC, launches political party

Former Director of Public Prosecutions, Stephen Pallaras QC, is launching his own political party, named Real Change SA.