Local buyers jumped at the chance to reinvent a charming California bungalow at auction on Saturday.
LOCAL buyers jumped at the chance to reinvent a charming California bungalow at auction on Saturday.
The Geelong West boutique house, in need of an upgrade, prompted bold bidding and sold for $145,000 above expectations.
The buyers, a young local couple living nearby, bought the two-bedroom house in 12 Ann Street for $925,000.
“They will use it as an investment property for the time being, renovate it and move in later,” Geelong agent Shaun Carroll Maxwell Collins said.
The 545 sq m property, located between Shannon Ave and Pakington St, has been listed with price expectations of $780,000 to $820,000.
Mr Carroll said the property’s reserve price was $780,000.
“It had the character, the substantial north-facing block, two street frontages, and that was what was wanted,” he said.
“It’s one of those character facades that everyone wants, and the house lends itself to renovation or extension.
“With large bedrooms and high ceilings, the home has an ideal floor plan with the potential to create the ultimate contemporary home.”
A seller offer of $740,000 from Mr Carroll kicked things off, as a healthy crowd watched as the two bidders pushed the price in $10,000 and $5,000 increments to $925,000.
The character house has a large front lounge and dining room.
There is a central bathroom and a kitchen which leads to a large veranda, with storage, in the rear part of the house, as well as a laundry room and a separate toilet.
Exterior highlights include a large north-facing backyard with plenty of room to roam.
There are also fruit trees, a vegetable patch and a single garage with rear access from Mowat Street.
The property is close to schools, parks and bus stops, and offers easy access to Geelong CBD and Princes Hwy.
Mr Carroll said a Melbourne developer had also expressed interest in the property.
Originally published as Bold bid for tired Geelong West California bungalow