The Malvern home at 91 Cheltenham Street will go to auction in December. Pic: realestate.com.au
Would you consider buying a dated home in desperate need of a modern makeover because it’s in a sought-after Adelaide suburb where properties often sell for more than $1 million?
It appears many househunters would, with one Malvern house stuck in the past attracting strong interest from prospective buyers.
Built in the 1960s, its interior hasn’t changed in decades. Pic: realestate.com.au
The home has been maintained well over the years. Pic: realestate.com.au
Klemich Real Estate director Matt Smith, who is selling the four-bedroom residence at 91 Cheltenham Street, said it was in strong demand ahead of its December 5 auction.
He said househunters interested in both renovating or bulldozing it to create their dream home were showing a keen interest.
“There was more interest in the home than I thought there would be,” he said.
“Overall the offering has struck a chord and appears to be of good interest.”
Built in 1964, the home is on a 887sqm block in a popular suburb that, according to latest realestate.com.au figures, has a median house price of $1,260,944.
CoreLogic data shows there have been 22 residential sales recorded above $1 million so far in 2020.
Would you keep the pink bathroom? Pic: realestate.com.au
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The house in on a sprawling 887sqm block. Pic: realestate.com.au
Mr Smith said the house had been owned by the same family for the past 56 years and was last updated decades ago.
“It’s like a time warp,” he said.
“But when they designed and built this property, they were ahead of their time.”
He said the living areas were open like most homes designed today, while the main bedroom had an ensuite and walk-in wardrobe.
As it doesn’t have any limiting constraints that often come with Malvern character homes, Mr Smith said the landholding offered a rare opportunity to knock the existing house down and build a brand new one, or extend it.
