Waterfront home in Sydney’s west secures early buyer
A speedy sale in Sydney’s west has proven the old adage, “Location, location, location”, is still relevant today.
An original property needing plenty of work in the Penrith region hit the market for the first time and sold in just two weeks.
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The home at 164 River Rd, Leonay, was listed with a guide of $1.05 million to $1.15 million.
It changed hands for a healthy $1.08 million after generating strong buyer interest and attracting three price offers.
Selling agent Paul Wallace from Property Central Penrith said the property’s popularity came down to its position, in front of the Nepean River and close to Leonay Golf Club.
“The buyer came from my database, they are a young family who had been looking for a while and were quite specific when it came to location — they wanted Leonay and, in particular, River Rd,” Mr Wallace said.
“We come across this regularly in this area; River Rd has been a prestigious, tightly-held street for a long time and buyers generally want to live there,” he said.
CoreLogic records confirm it is the only home to have sold in the Leonay street in 2019.
The new owners were one of about 17 groups through the property at the first inspection.
On a block of about 708 sqm, the four-bedroom house features original wallpaper and has rooms showcasing light shades of pink. Even the bathroom has a pink bath and bench top.
A highlight is the front balcony, which branches off the main bedroom and has uninterrupted views of Nepean River.
Mr Wallace said the buyers realised the house “needs a fair bit of renovation” and were eager to get in.
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“The seller — the original owner — had been there for 47 years. They were happy to see it go to a young family,” he said.
Less than 5km from the heart of Penrith and set at the foot of the Blue Mountains, Leonay has a village feel. It has a number of parks, a small public school and sporting fields.