12 Alton Ave Concord NSW Real estate

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An unassuming Concord family home has sold for a whopping $4.025m – more than $1m over reserve – after a heated auction.

Originally guided at $2.9m, the auction drew a large crowd and had seven registered bidders.

The listing of the four bedroom home at 12 Alton Ave showed a dated interior with cracks, peeling wallpaper and exposed plasterboard.

It was the first time in 70 years the property was on the market.

The masterbedroom with exposed plasterboard and peeling wallpaper.

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Listing agent Dib Chidiac said the spacious 841sq m block helped push the price well over the reserve at the late September auction.

The large block size and zoning that supports potential developments made the sale a popular property for buyers looking to renovate, invest or knock down and rebuild.

The home sold for $4.025m.

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The dated kitchen of the Concord home.

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A comforting start for the sellers, the opening bid started at the reserve price of $2.9m and went up by $100,000 intervals before tightening to $25,000 between bids.

The underbidder was a local family looking to live in the property, just missing out on the sale at a bid of $4m.

A local investor came out on top, and had plans to make use of the large land parcel and turn the property into a duplex.

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The large backyard has a pool.

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The backyard filled with fruit, a shed and compost.

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The sale price was well over the suburb’s median house price of $2.62m, according to recent PropTrack data.

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