A rundown Federation home in Marrickville has found a buyer at auction, selling for $1.67 million — $120,000 above the reserve price.
The four-bedroom house at 406 Marrickville Rd was one of the last properties to go under the hammer in 2018 and was a trustee sale, with the house requiring significant work but having a sound structure and original features like the marble fireplace.
Built c1909 and within the same family for a significant period of time, its large size meant it had once served as a doctor’s surgery.
Agent Andrew Knox of Richardson and Wrench had five people bidding on the day, with locals snapping it up and planning a renovation.
Its strong rental potential and 591sqm of land made it a very popular property with interested parties.
“If it had sold earlier in the year it would have gone for more,” Mr Knox said.
“Usually people like trustee sales because there is a commitment to sell. They will set a reserve that is generally realistic.”
On a corner block and with double-frontage, other features of the home include two bathrooms, leadlight windows and two sunrooms that could be used as an office space or bedrooms.