The “patchy” Fitzroy market has churned out a post-auction sale for an 1880s terrace with an A-plus location and rare late-Georgian facade.
The double-storey, three-bedroom looker at 4 James St attracted a genuine $1.25 million bid before passing in on a $1.35 million vendor bid as about 35 people watched on Saturday.
It sold soon after for an undisclosed price, understood to have fallen in the middle of the $1.35-$1.45 million quoted range.
Nelson Alexander Fitzroy auctioneer Luke Chisholm said the sole bidder — a young local family — won the keys.
They’d been drawn to the pad’s position just off Brunswick St and close to the CBD, Gertrude St and Carlton Gardens, as well as its three decent-sized bedrooms and period flourishes, including open-fireplaces, high decorative ceilings and a handsome facade “not typical of Fitzroy”.
A north-facing courtyard with rear access completed the package.
Mr Chisholm said the property had been renovated by a previous owner, not leaving much for the vendors — one of whom was an architect — to do expect update the bathroom and enjoy the home.
It had last sold for $546,500 in 2006, according to CoreLogic records.
The inner-city suburb’s market had been “patchy” of late, Mr Chisholm said: “Some of the results have been as strong as at the peak of the market. It’s hard to pick.”
A triple-storey townhouse at 114 Kay St in neighbouring Carlton soared $235,000 past reserve to fetch $1.31 million in a “market-defying” sale about a month ago.