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

How younger Greek Australians are redefining mental health conversations

Conversations once hidden in the shadows are now in the spotlight, bringing mental health to the forefront.

NSW urged to act on worsening elder abuse crisis

A new report from Relationships Australia NSW (RANSW) reveals that 15% of elderly Australians are currently experiencing abuse.

More civil war-era mass graves found beneath Greek city park

Another grim discovery has surfaced in Greece, where 14 bodies believed to be victims of civil war-era executions have been unearthed.

Restored classic ‘Boy on a Dolphin’ returns to Greek cinemas after 70 years

Long before Greece became a go-to backdrop for global cinema, one film forever changed how the world saw it — Boy on a Dolphin.

Greece to introduce harsher penalties for dangerous driving under revised highway code

Parliament is expected to approve a revised Highway Code (ΚΟΚ) on Tuesday, introducing tougher penalties for traffic violations.

You May Also Like

Greek festival in Darwin a huge hit as visitors dance the night away

People in the NT were treated to Greek music, food and dance over the weekend during a special Greek festival held in honour of Agios Panteleimon.

Cyprus president meets with Ersin Tatar for peace talks

Cyprus president, Nikos Christodoulides, and Turkish Cypriot leader, Ersin Tatar met to discuss peace talks for Cyrpus.

Greek PM holds first-ever virtual meeting with the heads of Greek Embassies abroad

Greek Prime Minister, Kyriakos Mitsotakis, held a virtual meeting on Thursday with all the heads of the Greek Embassies abroad.