A Melrose Park character home, which underwent a major transformation in less than a year, proved to be hot property at its Saturday auction where it sold $45,000 above its price guide.
The fully renovated home at 1 Swift Ave attracted three registered bidders and sold for $670,000 – well above its auction price guide of $625,000. It also sold for $169,000 more than it did just seven months ago (read more here).
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Selling agent Joe Marriott of Ray White Unley attributed the strong sales result to an immaculate top-to-bottom renovation, which attracted more than 100 groups through the home during the three-week auction campaign.
“We had really strong interest in the home with three registered bidders juking it out (competing against each other) on auction day,” he said.
“Bidding started at $500,000, then $550,000 and up in $10,000s from there.
“In the end it sold to someone looking at getting his foot into the area.”
Set on a 708sqm block, the home featured four bedrooms – including a large master with a walk-in robe and an ensuite, a large family bathroom, a brand new central kitchen, and an open-plan living and dining space with site-yard access.
The backyard has also been transformed – overgrown plants were cleared and replaced with a vast expanse of lush lawn, with a Hills hoist retained as a reminder of the home’s past.
“It’s a bit of old meets new with two driveways. I think that’s what really appealed to buyers,” Mr Marriott said.
“That and the fact it had a full renovation – the whole layout has been changed.
“The vendor really did a great job and always renovated it with the intention to re-sell it once it was ready.”
Melrose Park is located 8km south of Adelaide’s CBD and has median house price of $590,000.