133 Garden St, East Geelong sold under the hammer.
STAINED carpet and patterned wallpaper peeling off the walls did not deter four parties from bidding on a run down East Geelong property at auction.
A local party secured the 307sq m property at 133 Garden St for $455,000 as an investment, according to CoreLogic.
Barry Plant, Geelong agent Jay Roadley said the buyers were planning on renovating the property.
The house has seen better days.
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“They are going to save the building, a lot of people were concerned it was going to be pulled down but it is definitely going to be renovated,” Mr Roadley said.
“They are going to go in and restump it, renovate and then rent it out.”
The buyers plan on renovating the house.
The kitchen and meals area.
The house currently has two bedrooms, study, combined kitchen and meals area, loungeroom and a single carport.
The backyard has a covered entertainment area and courtyard.
The property is a short walk to the East Geelong cafe precinct, botanical gardens, waterfront and CBD.
The median house price in East Geelong has increased 12.3 per cent in the past year to $640,000, according to CoreLogic.