This neglected property on Earl St in Hunters Hill is listed at $4.2m.
A dilapidated home in Sydney’s northwest has turned heads thanks to its $4.2m price tag.
The neglected property in Hunters Hill is listed for $2.65m more than Sydney’s median house price.
There is overgrowth and scattered bricks on the front lawn, and boxes stacked inside. The interior paint appears old and cracking. A stained bathtub appears in the bathroom.
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The home is being sold as part of an estate.
There is even a section of the property — which appears to be an abandoned shed — that is listed on the floor plan as a “dilapidated structure”.
Bresic Whitney Hunters Hill sales consultant Nicholas McEvoy said the 3-bedroom, 1-bathroom home on 815 sqm was “in very poor condition” and would require “extensive renovation to be considered liveable”.
“While significant works could technically restore it, the scale of repairs means most buyers will view the property as a knockdown opportunity and focus on the land value,” he said.
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A look at the property’s ‘dilapidated structure’.
According to Mr McEvoy, the property is being sold as part of an estate, having been left to the current owner by the previous owner who had held it since the 1960s.
“Prior to that, it was owned by a horticulturalist who operated a greenhouse on the Note St side of the block,” he said.
“Over the years, the home has not been maintained, leading to the significant deterioration and the condition it is in today.”
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Inside the property’s only bathroom.
Mr McEvoy said interest in the home to date has been predominantly from developers.
“However, we have also seen inquiry from buyers considering renovation or rebuilding their dream home on the site,” he said.
According to PropTrack, the median price for a home in Hunters Hill is $4.644m as of July.
According to Mr McEvoy, Earl St in particular has seen “significant recent redevelopment”, with its location being a drawcard for developers.
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The home’s back garden and garage.
“Its location is highly convenient, just around the corner from Boronia Park shops, cafes, schools, and transport links,” he said.
“Comparable nearby sales demonstrate the strong demand and value being achieved for new or renovated homes on similar blocks.”
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The living room.
The listing is the latest example of a derelict property attracting a high price tag on its land value alone, following the sales of a $14m Cabarita home earlier this month and an abandoned Blakehurst home’s $1.6m sale in June.
The home will be auctioned on site on Saturday, September 13.
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