New South Wales real estate: Dilapidated Sydney home with only … – Nine

by | Oct 2, 2023 | Engineer

A decrepit Sydney home where only "drive-by" inspections were allowed sold at auction for seven figures.
The four-bedroom, one-bathroom house at 78 Alfred Street in Sydney's Annandale has a collapsed roof among other health hazards, and was marketed as land value only.
Listed by Michael White and Arden Savio of BresicWhitney Inner West, the property sold on September 30 for $1,350,000 as stated on the Domain listing.
Agent White tells Nine the buyer and other interested parties "all had/have intentions to start from scratch and build a new house in what's a rare land of reasonable size in Annandale… an opportunity to start again".
During its campaign, agents suggested that 78 Alfred Street is an ideal "knockdown and rebuild site" and just a short walk to the heart of up-and-coming Annandale.
Due to the property's dilapidated state, prospective buyers were required to register their interest for a "drive-by" inspection.
Listing photos reveal a collapsed roof with missing tiles, the front door completely off its hinges, a basic wire gate on an angle and tarpaulin covering numerous boxes of clothing.
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The rear windows are boarded up and the back deck has completely collapsed.
Overgrown weeds feature in the backyard along with pet carriers and fence palings.
No interior shots are shown and the floorplan simply states it's a "dilapidated structure".
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The property was marketed as "land value only" with 221 square metres available on a quiet corner block.
Agents suggest the structure could be knocked down to make way for a dream home, subject to council approval.
Annandale is a suburb in Sydney's Inner West, within 5km of the CBD. It's an area emerging with trendy eateries and shops and has a median house price of $1,975,000.
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