Anthony Albanese sells Dulwich Hill investment property for $1.75 million

The Prime Minister has made a tough call on one of his investment properties.

Anthony Albanese has finally sold his Dulwich Hill investment property but only after enduring the sting of a $150,000 price cut.

Capping off a frantic week where Labor rammed more than 30 bills through parliament, the PM was also making some big real estate moves.

The Prime Minister’s investment property was quietly listed as sold for $1.75 million on Friday night after it was initially listed at a hopeful $1.9 million.

The property previously hit the headlines after Albo evicted a long-term tenant to put the property on the market.

Proving that the life of the property investor is not all beer and skittles, the property was also left vacant, which means he was also missing out on rent while he pays a large mortgage on his new $4.1 million Copacabana getaway that settled recently.

The Prime Minister’s investment was quietly listed as sold for $1.75 million on Friday night after it was initially listed with hopes of $1.9 million. NewsWire / Max Mason-Hubers

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Mr Albanese pulled the Dulwich Hill home from auction last month, instead putting a reduced asking price of $1.85 million before dropping the price again.

Mr Albanese purchased the investment property in 2015 for $1.175 million.

Based on the original purchase price he pocketed a profit of $575,000 but that doesn’t include property taxes or mortgage costs over the last decade.

Prime Minister Anthony Albanese's investment property

In the listing on realestate.com.au, the three-bedroom semi in Sydney’s inner west was pitched as a “superb family residence designed to maximise space & style”.

The sale followed an unedifying public exchange with the prime minister’s former tenant who begged his landlord to let him stay in the property.

The tenant was handed an eviction notice earlier this year, giving him 90 days to leave the three-bedroom townhouse.

The tenant Jim Flanagan, 45, accused the Labor leader of talking the talk but not walking the walk on the housing crisis by evicting him from the rental.

Prime Minister Anthony Albanese. Picture: NewsWire / Martin Ollman

Mr Albanese said the decision was triggered in part by his wedding to Jodie Haydon.

“I’ve had changes in my personal life so I’ve decided to sell the property,” Mr Albanese said.

Speaking on Melbourne radio, Mr Flanagan said he had “never refuted or disputed that, that the PM, as his landlord, didn’t have the right to do what he’s doing”.

“But when you’re a renter, there is a power disconnect between landlords and renters,” he said.

Prime Minister Anthony Albanese's investment property.

“Ideally, I guess we’re just looking for a little bit more of a considerate approach when it comes to evictions, terminations issues, notices to vacate.

“And I guess I was just a little surprised that I wasn’t afforded that.”

The tenant said that the way the eviction was handled “seems a little bit misaligned” with the messaging Labor has been putting out about the rental and cost of living crisis.”

According to new financial records lodged with parliament, Mr Albanese owns a $2.5 million Marrickville house and previously owned a $600,000 Canberra apartment mortgage-free.

Anthony Albanese and his fiance Jodi Haydon have bought the $4.3m luxury beach home.

When you include his two taxpayer funded homes – the Lodge in Canberra where he is based and Kirribilli in Sydney – he now has access to four residential homes.

Mr Albanese’s climb up the property ladder began in 1990 when he bought first home in Marrickville for $146,000.

The disclosure paperwork surrounding the Prime Minister’s financial affairs, reveals that the only property that he has a mortgage for is Dulwich Hill with the Commonwealth Bank.

Mr Albanese previously made a tidy $500,000 profit on the sale of his Canberra apartment as he prepared for life in the Lodge and encouraged baby boomers to divest of assets to help first home buyers get into the market.