Two units in Stanmore on the same street both sell above reserve
Two units on the same street sold under the hammer on Saturday, well above price expectations.
A two-bedroom unit at 4/64a Cambridge St in Stanmore was the first, selling for $636,000.
The property had five bidders register for the auction, with four getting involved. Selling agent Astrid Joarder of Ray White-Erskineville sold the unit $86,000 above reserve.
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Bidding started at $500,000 and increased quickly in front of a crowd of around 30 people.
There were 72 groups through the inspections, with features of the unit including built-in wardrobes, a gourmet kitchen and a spacious loungeroom that flows to the terrace.
It was a great weekend for the Ray White team, with director Ercan Ersan also securing the sale of 1/40 Cambridge St.
The two-bedroom unit sold under the hammer for $1.021 million, with three of the six registered bidders participating.
Bidding opened at $900,000 and progressed in increments of $10,000, $5000 and $2000 up to the sale price.
There were 11 contracts issued and 174 groups through, with the reserve set at $1 million.
The unit is inside a converted Victorian mansion that has period details like high decorative ceilings and an original fireplace.
The last time it sold was in December 2013 for $730,000.
It was a relatively strong week for the inner west, with the preliminary clearance rate sitting at 59.6 per cent, per CoreLogic data.
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