A decrepit Sydney home with a projected $5 million price tag is hardly a “fixer-dream,” upper’s to use the expression.
The four-bedroom home in the Annandale neighborhood of the inner city will be auctioned off in July with a $4.8 million auction guide price.
This is true even though the interiors resemble a multimillionaire’s sanctuary more than a filthy squatter’s haven.
When the front entrance of 137 Annandale St. opens, a poorly lit hallway with deteriorating archways, steps, and doors is seen.
One of the walls has a sandblasted appearance, which is repeated on the home’s higher levels.
While some of the kitchen cabinets already look to be partially taken out, the brown lino appears to be lifting off the floor.
The shower base in the claustrophobic, low-cost motel bathroom has mismatched tiles.
There are visible wall and ceiling cracks, as well as water damage.
The faded carpets everywhere are in a filthy state that matches the unkempt condition of the walls and doors.
An independent one-bedroom addition with an additional living room that is directly adjacent to the back wall has the jerry-rigged appearance of an old mining town hut.
The house’s garage is a corrugated iron building with a corroded roof that is located along the back fence.
Fair enough, the Federation-style home has a respectable front façade and is situated in one of Sydney’s inner-most west’s sought-after neighborhoods, where the median home price is currently $2.4 million.
A “character-rich house” with “untapped possibilities and transformative scope” that “will excite renovators,” according to the website listing.
The property’s outstanding location and size, according to selling agent Chris Nunn, warranted the high asking price.
Mr. Nunn told the Daily Telegraph, “For anything to come up on one of the greatest streets in Annandale at 664sq m – it’s a complete anomaly.”
He suggested that the back construction could be demolished and converted into a studio apartment or an additional extension.
“Whoever buys that block will need for nothing in terms of a custom family dwelling, so long as they have the money to create it.” stated Mr. Nunn.