A run-down, unliveable Sydney house, marketed solely for its land value, has sold at auction for $1.35 million.
The four-bedroom property, situated at 78 Alfred Street in Annandale, was in such a poor state that only “drive-by” inspections were allowed.
The house featured a collapsed roof and other serious health hazards.
Michael White and Arden Savio, agents from BresicWhitney Inner West, managed the sale, which was finalised on September 30 according to the Domain listing.
Speaking to Nine, Mr White said that the buyer and other interested parties “all had/have intentions to start from scratch and build a new house in what’s a rare land of reasonable size in Annandale… an opportunity to start again”.
The agents had pitched the property as an ideal “knockdown and rebuild site”, highlighting its proximity to Annandale’s developing centre.
Those interested in the property were instructed to register for a “drive-by” inspection due to its dilapidated condition.
Photos from the listing show the property’s dire state: a roof with missing tiles, a front door off its hinges, and a simple wire gate leaning to one side.
In addition, tarpaulin covers boxes of clothing, while the back deck has fully collapsed.
Overgrown weeds, pet carriers, and broken fence palings litter the backyard.
No interior images were shared, with the floor plan noting the home as a “dilapidated structure“.
The property spans 221sq m and is located on a quiet corner block.
The house could be demolished to make way for a new build, pending council approval.
Annandale, part of Sydney’s Inner West and within 5km of the CBD, is a burgeoning area, dotted with trendy eateries and shops.
The median house price in the suburb stands at $1.975 million, further highlighting the land’s potential value.