The state of this old Edwardian house in Geelong’s inner east was such that selling agent Jason Barnett though himself it was too far gone.
But buyers have other ideas after snapping up the three-bedroom house before auction last week.
The Newtown agent had listed the 570sq m property with a $480,000 to $520,000 price guide.
Mr Barnett said most potential buyers saw the value in subdividing the property at 145 Carr Street, Thomson, which has two street frontages, plus rear lane access.
“The interest has come from people that looking at it as a two-lot subdivision or as a push over,” he said.
“A few said it was too far gone — ‘I can’t rent it, we’d need to bulldoze it’,” he said.
Mr Barnett wouldn’t reveal the sale price, negotiated days before it was due to be auctioned.
Having seen much better days, the house was cleaned out for sale, perhaps revealing just enough to whet the appetite.
It offered a traditional Edwardian layout, and although it was dressed faux brick cement sheet, there are high ceilings, a double-sided chimney, wide timber floorboards and even a lovely pair of stained glass windows inside.
“I wouldn’t have saved it. As a professional, I would say it’s too expensive but funnily enough the people that have just bought it, they’re going to renovate it.
“It’s an Edwardian, that was the original style, so you could strip it all back and start at the bottom and work your way up.”
Thomson is a hot pocket in Geelong’s inner east.
With an affordable $425,000 median house price large due to its mainly ex-commission housing stock, values have actually jumped almost 48 per cent in the past five years.
The property is handy to South Geelong train station, GMHBA Stadium and shopping strips including Garden Street, East Geelong, Pakington Street, Newtown and Geelong’s CBD.