Glen Huntly $288,000 sale the cheapest weekend Melbourne auction result
Melbourne’s cheapest auction sale price on the weekend was in the south east suburb of Glen Huntly, according to Australian Property Monitors.
It sold for $288,000, through Tom Grieve and Lachlan Chirgwin of Ray White.
The ground floor 1/13 Wattle Avenue apartment features one bedroom, one bathroom and car port and sits on 45 square metres.
The block's last reported one bedroom sale was in 2009 when competition between investors and first home buyers pushed the sale price of 12/13 Wattle Avenue to $307,500.
“Modern with the opportunity to bring it into today, this ideal starter or investment is just moments to train, bus, parkland, outdoor pool and Glen Huntly and North Road shops,” pitched the agents at Ray White.
The unit caught the eye of four registered bidders. It was bought by an investor looking to renovate.
Its potential income was estimated as $270 weekly after renovation, which would reflect a yield of about 4.88%.
The cream rendered apartment is fully enclosed by fences and features access by intercom and automated double gates.
The bedroom boasts a view through the windows and glass door, into the front garden set off with a mature silver birch.
Neighbouring Caulfield and Carnegie, the median unit price in Glen Huntly sits at $422, 500, according to RP Data.
Glen Huntly’s median unit value has risen over the past five years by 17%.
Its median asking rental is $360 per week, according to RP Data, which reflects a 4.4% gross rental yield.
