Buyers looking for a bargain have flocked to a property with plenty of potential – and it has been snapped up for $685,000.
The well-kept home in Sydney’s south west hit the market for the first time in almost 30 years and generated strong buyer interest, mainly due to its price point and land size.
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Selling agent Fuad Arida from Century 21 Fairfield said the three-bedder on 696 sqm at 10 Blackford St, Fairfield East, had only been up for grabs for two weeks when it went under contract. The sale has just cooled off.
“The property had a lot of interest from buyers living out of area, in places like Auburn, Merrylands and Parramatta,” Mr Arida said. “It sold to an investor who bought it the first time he saw it.”
In a quiet street near public transport, schools and shops, the house has been freshly painted inside with new carpet laid.
Featuring decorative cornices, it has a large living room and a separate kitchen and dining area.
The house also has an internal laundry with a second toilet. Outside, there is a carport and a lockup garage.
According to CoreLogic data, the buyer secured the home for a steal ‒ well below the suburb’s median house price of $835,000.
It also sold for less than Sydney’s median unit price, now sitting at $712,500.
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“The investor is looking to rent it out and possibly build a granny flat on the block,” the agent said.
The median asking rent in Fairfield East is $460 a week. Records show the vendor family paid $130,000 for the home in 1990. The sellers are downsizing.