Harcourts, North Geelong agent Shane King auctions 6 Vistula Ave, Bell Park on Saturday.

INVESTORS have seized on the long-term potential of an original Bell Park house sold at auction on Saturday.

A local buyer narrowly edged out two competitors to buy the three-bedroom house at 6 Vistula Ave for $447,000.

The kitchen is straight out of the 1960s.

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Harcourts, North Geelong agent Shane King the new owner planned to use the property as an investment for now, with the possibility of developing the 651sq m site in future.

“(The price) was were it should be for the quality of the house and the development opportunity,” Mr King said.

Many neighbours turned out to see 6 Vistula Ave, Bell Park sell under the hammer.

The weatherboard house is a mid-century time capsule with a retro kitchen, linoleum floors to the bedrooms and an original smokehouse out the back.

Mr King said its value lay largely in the north-facing land which was zoned for high density development.

“It could become a three-lot subdivision,” he said.

“The versatility on offer here is exceptional.”

He said the value of units in Bell Park rose 9 per cent last year in an encouraging sign for developers and investors in the area.