The northern beaches of Sydney is not known for its bargains. This is the laid-back peninsula home to more beaches than any other area of the city.
Families here are chasing the beach lifestyle. The median house price on the northern beaches is $1.76 million and the median unit price is $885,000.
So the sale of a three-bedroom cottage on more than 500sqm of land for $850,000 this week was rock-bottom buying.
It is true that the old cottage was on the busy Warringah Rd which runs east west from the beaches towards Chatswood via the new Northern Beaches Hospital.
Number 2 Ellis Rd, Beacon Hill was also on a corner with traffic lights and the frontage to the busy road was a full 40m.
Plus the home was in very original condition, full of fibro, with a bright pink and black bathroom and grey kitchen with ill-fitting cupboards.
Agent Rob Hedges, of Sweetnams Real Estate, advertised the house as a house for the price of a unit. He said the corner property was an opportunity for a renovation or a redevelopment, subject to council approval.
“It has a sunny aspect, a level grassy backyard and is less than one minute to bus stops,” he said.
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Mr Hedges explained he had lots of interest initially but that interest tended to drop off once buyers drove past the property.
The single-level home did find a buyer though, in nine days.