PHOTO: Vision from Fire and Rescue NSW shows how the property was once a two-storey abode. Photo: Fire and Rescue NSW
Sydney‘s Wiley Park is now witnessing the sale of a dilapidated residence at a price of $750,000, a surprising opportunity for profit despite the property’s current state.
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Once a spacious four-bedroom, two-storey house, this dwelling fell victim to a destructive fire that ravaged its entirety back in March. Consequently, the real estate agent responsible for the sale is marketing it solely based on its land value.
1 Samuel Street, the address of this property, has been listed by Marc Dissinger from Ralph First Real Estate. The auction for this land will take place on Saturday, July 15. Astonishingly, the property is expected to yield a profit due to the substantial increase in land prices. According to the Domain Property Profile, it was last sold in 1999 for a mere $277,000.
Footage released by Fire and Rescue New South Wales shortly after the incident shows smoke billowing from the upper level of the residence. The accompanying media release details the valiant efforts of firefighters who battled the intense blaze from all angles, including aerial assistance, despite the collapse of the roof and a side wall.
Fortunately, there were no occupants inside the home during the fire, and nearby school authorities promptly evacuated students and staff as a precautionary measure.
Agent Dissinger makes it clear in the property listing that the house has been utterly destroyed by the fire. Nevertheless, the focus shifts to the land itself, which spans over 322 square meters and is situated in a tranquil cul-de-sac. This vast expanse of land presents an appealing opportunity for prospective buyers to construct their dream home.
Regrettably, the listing does not feature any internal photographs of the residence. However, a picture captured from the rear reveals some of the visible damage caused by the fire.
SEE THE LISTING HERE
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