A 1918-built Melbourne home is facing a stairway to heaven as it heads to auction for the first time ever, with a price guide of $1.2-$1.3 million. Owned by the same family for more than 100 years, the age and history of the California bungalow at 203 Koornang Road, Carnegie, is a surprise even for its real estate agent.
But the home’s age will ultimately be its fall down. Woodards Carnegie sales agent Daniel Secatore explains the “decent amount of interest” he’s received in the property has been from developers and local families, who are all keen for a complete knockdown and rebuild of the house.
“The key buyer is a knockdown, rebuild type,” Daniel says. “The house hasn’t been touched, including any rewiring, since the 1970s or 1980s. It’s alright inside but the weatherboard exterior needs work.”
Daniel is unsurprised by the home’s potential for a complete rebuild.
“More people are looking at development in this area,” he says. “We see a lot of it unless you’ve got something that’s semi-detached where people do a big extension out the back.
“But with a freestanding home in this condition, restoring the weatherboards is quite a cost in itself. So you’ll probably be looking at a knockdown to rebuild it and to give it a better foundation than when it was built 100 years ago.”
Added attractions of the home are its location on a 590sqm corner block and in a GRZ1 (General Residential 1) zone, which allows potential buyers to build a property – or even townhouses, STCA – of up to two levels on the site. Easy walking distance to shops, cafes, and public transport is also highly appealing.
Daniel says many seniors living in Carnegie tend to hold onto their properties until they pass away, but he was still astonished to list a home as old as this one.
“Parents lived there until they passed away and now their daughter is selling it,” he says. “She has owned it since 2008.”
For now, the three-bedroom, one-bathroom home offers a wealth of 1970s groove with wallpaper and thick carpet, high ceilings with intricate cornicing, an eat-in kitchen, and a gas fireplace in the living room. There is also an external laundry, multiple storage sheds, and a garage with side street access.
203 Koornang Road, Carnegie was originally going to auction on Saturday, February 13. However, due to Victoria’s COVID-19 lockdown this weekend, the auction date has now been delayed with further details still unknown at the time of writing this article.
203 Koornang Road, Carnegie, Vic 3163
0408 560 790
0426 252 493