Buyers Jacqui and Mark Rivers plan on rebuilding in Victoria St, Rippleside.

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A Rippleside home being offered to the public for the first time in 95 years drew bids from three groups before selling $140,000 above the reserve price.

The property in Victoria St has passed through four generations of the one family after ancestors bought the timber home from the builder in 1927.

It sold under the hammer for $1.19m after bidding opened at $1m. The reserve price was $1.05m.

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But the dilapidated Californian bungalow is far past its prime, with Buxton agent Matt Plunkett marketing the range 734sq m property as a chance to build or renovate in the exclusive pocket.

“We all know this needs a lot of love – or as some people were saying, a bulldozer,” he said.

“Either-either. I get it – you’ve got a beautiful Californian bungalow if you choose to save the home but you’ve got no heritage overlay on the property should you wish to start again, such as the neighbouring properties.

Auctioneer Matt Plunkett calls for bids at Victoria St, Rippleside.

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The property is close to Corio Bay, with St Helens Beach a short walk.

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“It’s a remarkable opportunity with the rear lane off the back. Should you choose to go up I would assume you’ve got a bay view.”

Corio Bay is at the end of the street, with St Helens Beach a short walk.

Mr Plunkett said it was a fourth generation home.

“It was pretty much brand new when they bought it off the builder. Great grandparents, grandparents, her dad and now her – four generations,” he said.

Buyers Mark and Jacqui Rivers are returning to Australia from Utah in the United States where they will be close to Ms Rivers’ parents and family and young children.

“It’s a big moment today because we’ve been living overseas for the past 16 years,” Mr Rivers said.

“We’re living in Utah now and we are just planning our return home so this is going to be our new place – we’re going to do a very tasteful rebuild.

“We’re going to look at a build that makes the best use of the size and the rear access and the north-facing backyard.”

The 734sq m property sold for $1.19m.

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The bathroom shows the wear and tear.

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It’s the couple’s first trip to Australia in four years after being stuck in the US throughout the Covid pandemic.

“I’m from Brisbane. My in-laws are from Geelong and my mother-in law lives in Margaret St.

“My sister in-law is here and they’ve had a new baby.

“Rippleside I like for the parks and the water and I think it’s going to be get more interesting around here with cafes and shops. I’m bringing my dog back from America so she’s going to love it here too.

“We’re really excited to be here. It’s nice to be able to say we’re going to put our roots down.”