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