An Upper Sturt log cabin proved to be hot property among buyers, selling within 24 hours and well above price expectations.
The three-bedroom home at 131 Upper Sturt Rd, which had buyers lining up on the street prior to its first open, sold for $482,000 well above the advertised $449,000 to $469,000 price guide.
Bayly Real Estate agent Jackie Bayly said the property’s first open inspection attracted 10 groups, plus a few serious offers.
“We went live on the Friday, had one open on the Saturday and they were lined up at quarter-to-one to come in,” she said.
“On the Sunday and Monday we received three offers.”
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Set on 1939sqm of land, Mrs Bayly said the property was a unique opportunity for buyers, overlooking a beautiful tranquil landscape, with an abundance of native wildlife.
She said the property had been renovated before going on the market, with help from her real estate agency, and the modernised interior was one of the big draw cards for potential buyers.
“We had been working with (the vendors) over the last two-and-a-half months – we project managed and brought in all the tradies to get the work done,” she said.
“It’s quite rare and that’s why we thought it was worth spending the money to renovate.
“One gentleman said ‘this will go like a hot potato’ and everybody else loved the balcony and just how open the home was – it’s got this gorgeous feel.”
Vendors John and Jayne Rayson lived in the property for 35 years, building it completely from scratch.
“We built it back in 1984, I went to hospital to have my first child the day the building started,” Mrs Rayson said.
“It was done in stages and took longer than we expected, we just improved it as we went along.”
Inspired by Tasmanian log cabins, the couple were originally considering relocating before deciding to build their dream home in Upper Sturt.
“We didn’t want bricks and mortar, we wanted something a little more non-conventional,” Mrs Rayson said.
Ecstatic with the quick sale, the couple were shocked at how popular the property had been during last weekend’s open.
“The first guy in the driveway made an offer and the second guy pipped him at the post,” Mrs Rayson said.
The property features three sizeable bedrooms, a bathroom and an open kitchen, dining and living area that extends out to the spacious balcony.
Upper Sturt is located 17.3km from Adelaide’s CBD and has a median house price of $524,000, according to CoreLogic.