$900K Erskineville home up for auction

Any attendees who visit the home might sign a waiver, and no sandals or open toe shoes can be worn inside the property.The property was brought to market Adrian William Director Adrian Tsavalas and Real Estate Agent Kate Ferrante.“The previous owner was an elderly lady who’s been moved to an aged care facility,” Ms Ferrante said.“It’s never been renovated before, so it really is the perfect opportunity for a builder or renovator to make it into something new.”Builders are also the only people who have walked through all the rooms of the derelict terrace, since the second level is generally considered unsafe to walk around.Located only metres away from Erskineville Road and the local village, pub and dining scene, the 101 sqm terrace provides a decent scope for future capitalisation of the location.“Repairs of the terrace are around $400,000 to $500,000 if a builder or renovator wanted to completely flip the place,” Ms Ferrante said.Despite issues such as peeling paint, rotten floorboards and other structural problems, derelict homes can be an attractive prospect due to the low-prices and high level of bidder interest.Snatching up a $900,000 home when the median property price within the area is $1,700,000 is quite a deal for a home near the Sydney CBD.Leaking water and aging paint can cause multiple problems in derelict properties, with construction techniques in older houses also causing problems.The terrace is one of many small-scale Victorian homes which are perched on the narrow streets and cobblestone laneways of Erskineville.MORE:

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December 02, 2021 at 12:30AM
Any attendees who visit the home might sign a waiver, and no sandals or open toe shoes can be worn inside the property.The property was brought to market Adrian William Director Adrian Tsavalas and Real Estate Agent Kate Ferrante.“The previous owner was an elderly lady who’s been moved to an aged care facility,” Ms Ferrante said.“It’s never been renovated before, so it really is the perfect opportunity for a builder or renovator to make it into something new.”Builders are also the only people who have walked through all the rooms of the derelict terrace, since the second level is generally considered unsafe to walk around.Located only metres away from Erskineville Road and the local village, pub and dining scene, the 101 sqm terrace provides a decent scope for future capitalisation of the location.“Repairs of the terrace are around $400,000 to $500,000 if a builder or renovator wanted to completely flip the place,” Ms Ferrante said.Despite issues such as peeling paint, rotten floorboards and other structural problems, derelict homes can be an attractive prospect due to the low-prices and high level of bidder interest.Snatching up a $900,000 home when the median property price within the area is $1,700,000 is quite a deal for a home near the Sydney CBD.Leaking water and aging paint can cause multiple problems in derelict properties, with construction techniques in older houses also causing problems.The terrace is one of many small-scale Victorian homes which are perched on the narrow streets and cobblestone laneways of Erskineville.MORE: