It’s a fixer upper! Decrepit house in exclusive Sydney neighbourhood could go for more than $3.5million despite its rotting floorboards and collapsed ceilings
- A decrepit five-bedroom house in Sydney could sell for more than $3.5million
- The run-down house comes with rotting floorboards and destroyed ceilings
- The Darlinghurst house is advertised as ‘a rare chance to craft your dream home’
A decrepit five-bedroom house in an exclusive inner-city suburb could sell for more than $3.5million despite rotting floorboards and destroyed ceilings.
But the run-down terrace in Darlinghurst, Sydney, has been hailed as a renovator’s dream due to its size and prime location.
‘It’s just so big,’ BresicWhitney agent Shannan Whitney told Domain.
Pictured: The decrepit Darlinghurst terrace, which is on the market for $3.6million
Red and white tape is hung inside the property’s disintegrated living space
‘You don’t find anything of that size in such a good inner-city location and so, regardless of its condition, it’s valuable.’
The uninhabitable four-level home is 7.5m wide on 280sqm of land.
The owner of 30 years – an elderly man – moved out of the home three years ago and his family have now decided to put the property on the market.
The buyer’s guide currently sits at $3.6million.
The Domain listing reads: ‘With five to six bedrooms, the sprawling residence is a rare chance to craft your dream home from a piece of Inner Sydney history.’
Mr Whitney acknowledged it would take a lot of capital and work to bring the Surrey Street home back to a ‘liveable condition’.
The buyer’s guide for the four-level Darlinghurst home (pictured) currently sits at $3.6million
Thick black dirt covers the neglected kitchen space, which was painted in red
Pictured: One of the two bathrooms inside the Darlinghurst terrace
An investment of more than $1million into its renovation could lead to doubling the property’s value.
‘It could be worth $7million or $7.5million or $8million,’ Mr Whitney said.
Pictures from inside the home show dirt smeared across the neglected kitchen space, plaster hanging from the ceiling and paint peeling off the walls.
With coronavirus restrictions eased, prospective homebuyers can now view the property for an inspection.
It will go to auction on Saturday June 20.
The run-down house comes with rotting floorboards and destroyed ceilings
With coronavirus restrictions eased, prospective homebuyers can view the property for an inspection. It will go to auction on Saturday June 20