Potential of central Lara property doesn’t go unnoticed on auction day
FIVE bidders who saw potential in a central Lara property pushed up the sale price at auction on Saturday.
The two-bedroom house on a 717sq m block at 39 McClelland Ave sold under the hammer for $345,000.
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Price expectations for the entry-level property had been $280,000 to $305,000.
Barry Plant, Geelong agent John Zannetos said the buyers were investors who planned to make a few improvements and rent out the property.
“It was the potential and price point that attracted first-home buyers, owner occupiers and investors,” Mr Zannetos said.
The house was originally designed with three bedrooms and could easily be converted back to this configuration.
It has a open-plan kitchen/meals area adjoining a cosy separate loungeroom.
The property represents bargain buying, with Lara’s median house price sitting at $516,500, according to CoreLogic.