Add CategoryAn unliveable Paddington dump dubbed the worst property in the suburb has sold for a whopping $1.565m, $265,000 above its reserve.
The crumbling Victorian terrace appeared to be missing stairs, had parts of the ceiling falling down, crumbling plaster with loose bricks, branches and planks of wood scattered around the dishevelled building.
There were 12 bidders registered at the auction which was held on Saturday afternoon at PPD Real Estates Double Bay rooms hoping to get their hands on “the ultimate Paddo fixer-upper.”
![](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
The “ultimate fixer-upper in Paddo,” the marketing for the property stated.
Part of the crumbling home.
MORE: Abandoned mansion cracks $19m sale
Out of the 12 bidders, seven of them were active according to PPD’s Catherine Dixon.
She had previously said that out of her 16 years of working in real estate, it was the worst home she’d ever seen in Paddington.
“It’s a big job,” she said.
The property had interest mainly from builders, with a couple of owner occupiers who were either architects or had experience renovating, according to Ms Dixon.
2 Little Dowling Street, Paddington.
Where there may have been stairs once upon a time.
The property sold to a family who planned to renovate the home for their son to live in.
Builders had estimated the property would take at least $1m in renovation costs to make the house liveable, according to Ms Dixon.
MORE: Landlords put on notice about rent rises
Our top 5 favourite homes on the market this week
The bidding started at $1m and increased in $10,000 increments until $1.3m, before two bidders fought it out to $1.565m.
Scaffolding left in the yard and overgrowing nature.
“I thought it might start a little lower, we were originally guiding $1m and then pushed it up to $1.1 after buyer feedback,” Ms Dixon said.
The residence at 2 Little Dowling St was built circa 1880 and has been left unlived in for 15 years, according to lead agent Catherine Dixon from PPD real estate.
Paddington has a median house price average of $3.1m, according to PropTrack data.