THE popularity of rental properties in a Belmont pocket off the Surf Coast Highway has underpinned the sale of an entry-level house in the area.
An investor bought 6 Charles St, Belmont for $400,000 after auction on Saturday.
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He was the lone bidder for the three-bedroom brick house which passed in for $320,000.
McGrath, Geelong agent David McGuinness said both first-home buyers and investors had been were attracted to the affordable property.
“He bought it as an investment,” Mr McGuinness said.
“It was the location — it’s really easy to rent in there. We will have tenants by the time it settles.”
The house is on 536sq m of land and has two living areas, a separate kitchen/dining area, one bathroom and a single garage with a workshop area.
The quoted price range was $390,000 to $425,000.
Belmont’s median house price is $535,500, according to CoreLogic data.