Vaucluse home to make $19 million profit in 33 years

It last traded for just over $1 million, but what makes this Vaucluse home worth almost 20 times more that sum today?

Room with a view: Wake up to a harbour panorama everyday at this waterfront residence.

Last traded for just over $1 million 33 years ago, a Vaucluse mansion with its own beach is now asking more than $20 million.

The five-bedroom palatial residence on Coolong Rd, which is also known as Green Gables, was bought by the Mayo family in 1981 for $1.15 million — a sum that in today’s terms would only get eastern suburbs buyers a nice three-bedroom apartment on the prestigious peninsula.

Green Gables: Now at a blue ribbon asking price of about $20 million.

Exclusively listed overnight through LJ Hooker Double Bay agent Bill Malouf, the 1600sq m waterfront estate now has a whopping $20 million price tag on it, $2 million more than the vendors were asking when it was temporarily on the market in 2011, but failed to sell.

Despite the hefty figure, the listing is still less than half the recorded sale price for a neighbouring Coolong Rd property, on a much larger 4100sq m block It sold in 2008 for $45 million.

Harbour frontage: This Coolong Rd home has its own beach, private jetty and harbour pool.

Before the Mayo family bought the 1920s home, it had belonged to merchant banker Frank Nugan who had snapped it up in 1976 for just $450,000.

Mr Malouf has described the latest listing as an “opportunity of a lifetime” as the Vaucluse house has a significant frontage onto Vaucluse Bay, a private deepwater jetty, sandy beach and a harbour pool.

Room with a view: Wake up to a harbour panorama everyday at this waterfront residence.

Sitting alongside the popular Nielsen Park, the glamorous property also features expansive level gardens, a drawing room, sunroom, formal dining room, family room, library, four bathrooms, an eat-in kitchen with a walk-in pantry and gated security.

There are two other properties currently listed on Coolong Rd, including a seven-bedroom home where Leonardo DiCaprio reportedly stayed for $15,000 a week while filming The Great Gatsby in Sydney. It was put on the market in January with a rumoured price tag of about $40 million.

Millionaire mansion: This prestigious Vaucluse home has five bedrooms, a library and a private jetty.