RESIDENTS of a quiet Newcomb street should expect little to change in the neighbourhood after investors became the second owners to an original 1950s house.
The three-bedroom house on a 1174sq m property at 12 Cecil Court sold for $480,000 after it was passed in for $450,000 at Saturday’s auction.
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Eastwood Andrews, Geelong agent Nicole Andrews said the buyers had looked at the Mid Century house early in the campaign and resurfaced at the auction.
“They are investors so well be renting the property out long term,” Ms Andrews said.
The street is opposite East Geelong, with local shops and supermarkets minutes from the door and the CBD five minutes away.
The home was built in the 1950s and includes a formal lounge and dining room, a separate kitchen and meals area and three bedrooms each with built in wardrobes.
A sunroom or second living area overlooks the front yard, while the driveway leads to a shed complex accommodating three cars, with an additional workshop area and storage sheds.
The agents said the potential rental income from the property was $350 a week, while the land component offered capital growth opportunities.
The sale price sits above Newcomb’s $452,000 median, which has risen 25 per cent in the past 12 months, according to CoreLogic figures.