Real Estate

Pink terrace in Darlington sells for $1.411m at auction

Written by The ReReport
As seen in the Source link, written by on 2018-12-17 05:59:45

This classic pink terrace at 446 Wilson St in Darlington sold for $1.411

A classic three-bedroom terrace in the inner city has sold at auction for $1.411 million — $131,000 above the reserve.

The property at 446 Wilson St in Darlington has a classic pink façade, with internal features including high ceilings, ceiling roses and original fireplaces.

There were four registered bidders on the day.

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Selling agent Duncan Gordon of Raine and Horne Newtown had four registered bidders and all four got involved. They were all buyers looking to renovate and eventually move in.

“If you have the right product people will buy it, but the difficulty is getting people motivated to get involved,” Mr Duncan said.

The kitchen is in decent condition.

The last time the property changed hands was back in October 1994 when it sold for just $265,000, per CoreLogic data.

While not in a decrepit condition, the terrace is in need of a significant renovation, but has the potential to be transformed into a great family home.

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Mr Gordon’s colleague Michael Harris also had a big sale, with 36 Wells St in Newtown going for $1.44 million.

It last sold for $265,000 back in 1994.

The two-bedroom property is full of country charm with a functional floorplan and recycled materials from all over the inner west.