An Adelaide family has reaped the rewards of a 25 year investment – their home – which sold at auction for almost six times the amount they bought it for.
The property at 6 Undelcarra Rd, Burnside sold under the hammer for $2.11m over the weekend, fetching its vendors $1.665m in resell profit.
Property records show the property last sold in 1999 for $445,000.
Selling agent Brandon Pilgrim of Ray White Burnside said the longstanding family home proved popular with buyers the moment it hit the market.
“Interest in the home was quite strong. We ended up having three bidders that actually bid against each other out of five registered bidders,” he said.
“A local family landed the winning bid. All of the bidders were families, it was a real family home.
“The sellers owned the home for about 25 years, it was their family home, and now they are downsizing.”
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Nestled at the whisper-quiet end of a neighbourly, no-through road, this much-loved home has been owned by the same family for the last 25 years.
The home comes with a tennis court
…and a semi undercover swimming pool and spa.
Situated on a 1333sq m allotment, the 1970s family home comes with a swimming pool and half-tennis court and is close to local parks and reserves.
A light-filled main living area has a cosy see-through gas log fireplace, while gallery windows look onto the backyard.
The spacious designer kitchen has dual wall ovens and a dishwasher, as well as a movable island bench.
Five bedrooms are generously sized, including a lovely main bedroom with a walk-in robe and sparkling ensuite.
There is also an excellent home office with a skylight and built-in shelving.
The internal layout is spacious.
The home offers plenty of room for entertaining with an open-plan floorplan.
While perfectly maintained, the residence could benefit from a renovation.
Mr Pilgrim said the home’s location was one of its main appeals but also lent itself perfectly to upgrades or a renovation.
“It’s located in one of the nicest spots in Burnside at the end of a cul-de-sac and around the corner from Newland Park and Ferguson Reserve,” he said.
“It’s just a really nice part of the area where a lot of people want to live as it’s a lovely spot for families.
“The home also offers plenty of running room for the kids but at the same time, is probably due for a bit of an upgrade and renovation, so it makes for a nice project for someone who wants to take that on. That said, the home is very liveable as is.”
Burnside has a median house price of $1.437m, according to PropTrack.
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