Real Estate

Big Carlton North sales among election day surprises

Big Carlton North sales among election day surprises
Written by The ReReport
As seen in the Source link, written by on 2019-05-20 16:30:00

The single-fronted terrace at 590 Rathdowne St sold for $1.495 million.

Election day was full of surprises as two Victorian terraces in Carlton North sold for well above their price ranges.

A renovator’s dream at 139 Fenwick St sold under the hammer for $151,000 above reserve, while a “pretty typical North Carlton terrace” with a “unique colour palette” at 590 Rathdowne St sold before auction for $1.495 million.

The classic Victorian that sold at auction on Fenwick St, titled Ferngrove Vill
a, attracted six bidders including two investors and four couples looking to renovate.

A vendor bid of $900,000 started proceedings before the action picked up in $5000 and $10,000 increments.

After 35 bids, the property sold to an investor who finalised the $1.151 million sale with a $1000 bid.

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The charming Victorian facade at 139 Fenwick St, Carlton North.

The living room waiting to be transformed.

A blank canvas in the bedroom.

Morrison Kleeman Estate agent Alvy Buffon said the property attracted significant interest because of the restoration and transformation potential.

“I have no idea what changes the buyer will make,” Mr Buffon said.

“Personally, if I was to purchase the property, I’d renovate the interiors, extend up a level and at the back of the property.

“I’d create another two bedrooms and one bathroom so you have a four-bedroom home.”

The entrance hall extends past the two bedrooms before opening to the living domain and study.

At the back is a bathroom plus an outdoor toilet in the courtyard.

Mr Buffon said holding the auction on election day turned out to be a positive.

“We were thinking about changing it and we had internal discussion with the directors,” Mr Buffon said.

“But most people were out and about anyway … (which) attracted local residents and neighbours.

“The more people at the auction, the better.”

A two-minute drive away, Woodards Carlton North partner Glenn Bartlett said the agency had been expecting about the $1.4 million range for 590 Rathdowne St.

He said the buyer planned to add a second storey to the circa-1910 home.

“The property is slightly wider than normal, semi detached on the north side and with good car access at the back,” Mr Bartlett said.

“The vendor owned it for about 23 years and had done some minor work … (but it’s) probably in need of a refresh.

The timber kitchen at 590 Rathdowne St.

The “unique colour palette” in the living room.

The striking family bathroom.

“There are some bold colours at work.”

Mr Bartlett said the location, and potential to move in straight away and extend later on appealed to the buyer.

“There was lots of interest in the property, and it sold without being advertised at all,” he said.

“The vendor was certainly pleased with the result, and was happy with the price given they didn’t test it at auction.”

No. 590 Rathdowne St last sold in May 1996 for $237,000, while 139 Fenwick St sold for $790,000 in October 2000, according to CoreLogic.

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