Former Leichhardt dump sells for more than double its purchase price

THIS once dilapidated home was fixed up and has now sold at auction for more than double its last sale price two years ago.

• Former shack back on the market
• $130m in unit sales in four hours
• Beauty of an old flour mill
• Inside Sydney’s prized estates

A FORMERLY dilapidated house in Leichhardt has more than doubled its value in two years.

The four-bedroom home at 80 Edith St fetched $2.132 million at auction.

When the vendors bought the 278sq m property two years ago, they paid just $980,000.

The two-storey home attracted 100 groups at inspections with 10 contracts issued and seven registrations at the auction.

Bidding opened at the price guide of $1.9 million with four buyers actively competing.

An extension was built at the back of the home.

The original house when it was on the market two years ago.

“More than 50 per cent of the registered bidders were young families. The majority of people coming through were professionals or those with young children,” Danielle Dewhurst from McGrath Leichhardt said.

She added that homes of this size were rare in Leichhardt.

“I think it’s very difficult to find a house in Leichhardt that offers what this house did — four bedrooms, three bathrooms, off-street parking, a pool and not a cent to be spent,” she said.

The upstairs bedroom has a private balcony.

The exterior of the original home.

The original timber workers cottage had been vacant for 20 years and had deteriorated to the point that the front deck had rotted away and the walls had disintegrated.

Since their purchase, the vendors created a new residence set over two levels.

The original front facade was disassembled and rebuilt to the original dimensions.

The lounge and dining room opens out to a backyard.

An extension was built at the rear and another floor added.

There are open-plan interiors that flow out to an entertainment deck with lawn and swimming pool.

Each of the four bedrooms have built-in wardrobes and two also have ensuites.

The home also has a three kilowatt solar system and a 5000L water tank.

The open-plan kitchen and lounge area.

Originally published as Former Leichhardt dump sells for more than double its purchase price