Carlton: Run down home scores nearly $600k windfall at auction

A Carlton residence with peeling paint and missing floor tiles sold for hundreds of thousands above the top end of its price range at auction. See what it went for.

The property at 88 Carlton Street, Carlton sold for thousands above its reserve price.

A Carlton residence with peeling paint and missing floor tiles sold for nearly $600,000 above the top end of its price range at its Saturday auction.

The six-bedroom abode at 88 Carlton St had a $2.75m-$2.95m price range and sold for $3.517m — $567,000 higher than the top of its price hopes.

RELATED: Extra $50 scores Cheltenham home at auction

18-year old snaps up first home at auction in Melbourne’s north

Millennial renters pocket $250k from bold home play

Nelson Alexander Carlton North agent Rick Daniel said the house was a once-in-a-generation opportunity to buy on its very tightly-held street.

“Properties in that location, particularly Carlton St, are just really hard to come by, especially the bigger grand terraces,” Mr Daniel said.

“What made this one special, it was at the end of the road, semi detached, and it was a bit of a blank canvas.”

The home is missing floor tiles and will require some TLC

The living room with ornate fireplace.

The sale comes after 617 Victorian homes scheduled to go to auction sold on the weekend with a clearance rate of 67 per cent.

MORE: Extra $7k that’ll come as rude shock to Melb buyers

Couple turn 80s Surf Coast pad into area’s ‘coolest house’

The Carlton property has six bedrooms.

Barry Plant head of growth Mark Lynch said the news of the upcoming federal election may have given a few prospective homebuyers a spring in their step this weekend.

“Inflation’s coming down, the elections been called, the rest of the year is going to look positive,” Mr Lynch said.

The home also has two bathrooms...

... which may require some updating.

“However, if I am a homebuyer, I’d be thinking the market’s going to go up, I need to get serious.”

He added that younger couples looking for an abode for less than $1m were very keen in the market at the moment.

“I think the rest of the market is just solid,” he said.

The back yard provides some privacy in the inner-city location.

Mr Lynch noted that he was starting to see investors trickling into the Victorian market, especially out of Sydney, who were looking at how low vacancy rates were in the state.

---

Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox.

MORE: ‘Absolutely diabolic’: Pensioner forced to access home via tunnel

‘Mad Mouse at Moomba’: Owner’s secret to securing $177k windfall

Bargain Victorian castle for sale, complete with keep and turrets

[e-mail]

Originally published as Carlton: Run down home scores nearly $600k windfall at auction