A tiny two-bedder that cost $40k when it was bought in 1970 earned its 92-year-old owner $2.1m last week

MURIEL Macrae lived in her modest Mosman apartment for nearly half a century. When she sold it last week she became an instant multi-millionaire.

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FOR many people, a property is a major long term investment, yet few can say that they have lived in the one place for half of their lives, not least if that period spans nearly half a century.

It has been 46 years since Muriel Macrae paid about $40,000 for her apartment on Mosman’s Raglan St, which for the 92-year-old was exactly half a lifetime ago.

And in a sign of how just how much times have changed, last week she sold the two-bedder overlooking Little Sirius Cove, which other than an updated kitchen and bathroom was in original condition, for $2.1 million.

Muriel Macrae sold her Mosman apartment after paying about $40,000 for it 46 years ago.

The apartment has a stunning view.

“I moved here February 1970,” she said. “I was looking for a place on the lower north shore and I started at Kirribilli and just drove down every street that went down towards the harbour so I eventually I found Raglan St.”

Ms Macrae noted that she happened across the complex before it had even been completed, but fell in love with it straight away and was one of the first to snap up one of the 51 units.

“I came across this building and it had the big sign up saying now inspecting, so I thought I would inspect it,” she said. “They hadn’t finished it, they had furnished the street level units so that people could see what they were like and they kept finishing it even after I’d taken up residence.”

The 92-year-old has lived in the apartment for exactly half her life.

Located near the tip of the peninsular, the home offers sweeping harbour views which are visible from every single room in the house, even the bathroom, she noted.

“And of course you know what’s going on in the harbour and you have a wonderful view of New Year’s Eve, you can become a very popular person on New Year’s Eve.”

Other than an updated kitchen and bathroom, it is in near original condition.

Spectacular harbour views can be enjoyed from every single room.

Even the bathroom has a view.

Raine & Horne Mosman’s Nick Kingsmill said the home, located at 30/17 Raglan St, sold within just four days of being listed and for well above the $1.8 million asking price, with three buyers taking contracts at the first inspection and all vying for the sale.

“It was very hotly contested, it is truly a stunning view and from what we can see maybe a record for a two-bedroom, one bathroom apartment with one car space of this vintage on the lower north shore.”