/First-home buyer pounces on ‘worst’ house in Belmont street

First-home buyer pounces on ‘worst’ house in Belmont street

5 Donald St, Belmont sold for $350,000 to a young first-home buyer who say the property five minutes before the auction. McGrath agent Ricky Forte sold the property.

A YOUNG first-home buyer has pounced on the worst house in a Belmont street with big plans for a renovation.

The three-bedroom house at 5 Donald St was marketed as an opportunity to renovate or detonate and McGrath, Geelong agent Ricky Forte described it as unlivable in its existing condition.

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5 Donald St, Belmont sold for $350,000 to a young first-home buyer who say the property five minutes before the auction. McGrath agent Ricky Forte, left, sold the property.

Mr Forte said Saturday’s auction attracted four bidders, including two developers keen on the 604sq m block with subdivision potential that backs onto Settlement Rd.

But he said a buyer inspected the property for the first time just before the auction and secured the property for $350,000.

5 Donald St, Belmont sold for $350,000 to a young first-home buyer who say the property five minutes before the auction. McGrath agent Ricky Forte sold the property.

“A young first-home buyer with plans to renovate saw it for the first time today five minutes before the auction.

“He’s attracted to the block size and a period style house.

“I think the neighbours are thrilled as they don’t want any more units or townhouses in their street,” Mr Forte said.

5 Donald St, Belmont sold for $350,000 to a young first-home buyer who say the property five minutes before the auction. McGrath agent Ricky Forte sold the property.

The property was marketed with a price guide of $329,000 to $349,000 — about $200,000 below Belmont’s median house price of $530,000.

It was the second house to sell in Donald St this month.

Earlier, an original 1950s weatherboard house at 7 Donald St, sold for $380,000.