Dump is cheapest inner west sale
EIGHTY-six-year-old Maria Argirou’s kitchen has seen better days but that’s unlikely to be too much of a worry to the young builder who paid the bargain price of $875,000 for her Marrickville terrace.
The dilapidated home is believed to be the cheapest house sold in the inner west for five years and is being seen as yet another sign the property market is swinging even further into buyers’ favour.
The two-bedroom crumbling wreck at 14 Middle St, which passed in for $835,000 yesterday before selling soon after, had been Ms Argirou’s home for 55 years before she moved to a nursing home.
With no children or relatives or even a lawyer representing her interests, the 139sqm block was sold via the NSW Trustee and Guardian with the proceeds to pay for her nursing home costs.
David Diamantopolous, of Devine Real Estate, said he was unable to offer buyers a price guide due to the government rules. “Do you think if I’d been able to quote $875,000 as a price guide it would have sold for that price,” he said later.
A four-bedroom home in better condition and on a slightly bigger block sold for $1.550 million in 2015.
With peeling paint, damp walls, an uneven, rotten floor and a miserable kitchen, Mr Diamantopolous said he’d had “a lot of builders walk in and walk straight out”.
Nonetheless, six registered parties bid for the property. AUCTION NEWS P97
The Marrickville terrace.