Albert Park house with no kitchen or bathroom costs more than $1m
An Albert Park pad lacking the basics for survival is still expected to attract a royal sum.
The sellers of the externally quaint but internally blank two-bedroom cottage at 3 Finlay St stand to gain $1 million from what they paid for the place 23 years ago.
CoreLogic records show the corner property last sold for $187,000 in 1996. It’s scheduled to be sent under the hammer on Saturday, August 24 with hopes of $1.15-$1.25 million.
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Realestate.com.au listing photos show the vendors began gutting the cute, potential-packed cottage but abandoned the project with materials lying in the backyard.
It might not come with bells and whistles, or even a toilet for that matter, but there does appear to be a kitchen sink — it’s just a bit rusty.
Marshall White Port Phillip agents Kaine Lanyon and Scott O’Halloran have the listing, spruiked online as “enviably situated moments from Albert Park Village, cafes, the beach, Albert Park Lake, trams and zoned for Albert Park College and Albert Park Primary School”.
The scope and potential is “almost limitless” — subject to council approval.
Its charming facade is complemented by an arched hallway inside, with living, meals and kitchen areas as well as the two bedrooms and rear laneway access.
“Keen renovators will delight in this entry-level opportunity and can be inspired by neighbouring homes that have been beautifully refurbished,” the listing states.
The Block winners and fan favourites Josh Barker and Elyse Knowles bought a similar — but more equipped — house just around the corner at 27 OGrady St in December 2017, listing it for rent at $570 a week in April with new carpet, split-system heating and cooling and a recent paint job.
They paid $1.35 million for that property, CoreLogic records show, and also bought a South Melbourne investment property for $1.42 million last year.
Also in Albert Park, fellow The Block winners Alisa and Lysandra Fraser have given the property at 162 Mills St a schmick contemporary overhaul starring a sleek wine cellar. That house was listed fully furnished with a $3.8-$4 million price guide in October last year, but then put up for rent instead due to Melbourne’s property market downturn.
Albert Park’s median house price fell 15.5 per cent to $1.74 million in the 12 months to May, CoreLogic data shows.
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