‘Unliveable’ Sydney house sells for $3.8m

PHOTO: Darlinghurst terrace house, Sydney

A run-down, uninhabitable terrace house that has sat boarded up in Sydney has sold at auction for $3.8 million.

The dilapidated four-bedroom property in the inner city suburb of Darlinghurst was owned by the NSW government and scored the biggest auction sale across the country.

The place was sold by the NSW Housing Department and was previously brought in 1969 for $18,5000 by the NSW RTA.

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Pictures from the property show its terrible condition, with mould on the walls, dirt on the floor, holes in the skylight as well as multiple rooms with unfinished painted walls.

There are also missing bricks in the backyard patio, while inside doors are boarded up.

Doors boarded up inside 202 Palmer St, Darlinghurst. Picture: Supplied

The broken skylight. Picture: Supplied

Mouldy walls and dirty floors throughout the house. Picture: Supplied

There were 53 bids made on the property, which was marketed as “raw and oversized”, while 13 people registered for the auction.

“Grandly scaled and ready to transform, this untouched character terrace is set in one of the area’s best tree-lined streets, moments to Hyde Park and in easy reach of the city’s best attractions,” the real estate advertisement declared.

Real estate agent Maclay Longhurst from BresicWhitney said the property was “unliveable”.

“It was a completely undeveloped property and it wasn’t liveable, but it had great scope and potential,” he told news.com.au.

“It has a 6m-wide frontage and there is a potential to put a double carpark in the back. Propositions don’t come up on the market often like this and it’s a rare commodity for it to be on market and undeveloped.”

He added he wasn’t surprised by the sale price as it was predicted to fetch between $3.5 million and $4 million, but that the “vendors were very happy”.

The median property price for a house in Darlinghurst is $1.9 million, according to data from rea.com.au.