Werribee $256,000 sale Melbourne weekend's cheapest result

Werribee $256,000 sale Melbourne weekend's cheapest result
Andrea DixonOctober 20, 2014

Melbourne’s least expensive house to sell at auction on the weekend traded for $256,000 in Werribee, southwest of the CBD.

The three-bedroom 1970s house has a central bathroom and separate living room and kitchen and is on a 571 square metre block. The 4 Carbon Court property sold through Hocking Stuart Werribee, according to Australian Property Monitors.

Marketed as a renovators dream, it may also have potential as a knock-down to build another house or units, subject to council approval.

According to RP Data the rent for the area is $276 a week and based on this figure an investor could expect a yield of 5.6%. Growth in the area is at 3.3%. The median price for the suburb was $314,500 in September.

The only other recent sale in Carbon Close was number 8, which exchanged last year for $295,000.

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