3 Bostock Ave, Manifold Heights is offered for the first time in almost half a century. A rundown Manifold Heights property offered for the first time in almost 50 years could unlock a multimillion-do...
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3 Bostock Ave, Manifold Heights is offered for the first time in almost half a century.
A rundown Manifold Heights property offered for the first time in almost 50 years could unlock a multimillion-dollar opportunity in a blue-chip address.
The worst house in the best street is a fitting description for the four-bedroom weatherboard residence at 3 Bostock Ave.
Last sold for $32,000 in 1979, the unoccupied home has fallen into disrepair in recent times and is being sold with some rooms stripped back to stud walls.
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Jellis Craig Geelong agent Jeff Begg will auction the property on Saturday with a $1.05m reserve, despite its current state.
He said the chance to secure a 873sq m block in such a premium street had sparked buyers’ imaginations.
“It has been in the same family for a very, very long time. As much as it has been well loved it is in a condition that needs attention,” Mr Begg said.
“It certainly is the worst house in the best street but it could potentially become the best house in the best street because the land size is fantastic and the potential there to rebuild, redevelop or renovate is absolutely exceptional.”
The house has not been updated for decades.
Local families are among those considering the renovation project.
The front lounge has a bay window and high ceilings.
He said some renovation works had been done 30 years ago, with the house restumped more recently.
Though the kitchen and bathroom are original, he said the four principal rooms were in good nick.
“The house has appealed to local families that just absolutely love the area and see the opportunity to get in there and turn it into what would be the absolute perfect family home,” he said.
“We had a sale in the street a little over a year ago that made $3.2m so the scope for value add is quite extraordinary.”
33 Bostock Ave, Manifold Heights, was renovated to create a premium family home.
In that case, the vendors of 33 Bostock Ave turned an unrenovated Californian bungalow purchased for $1.54m into a luxury five-bedroom house with a swimming pool and studio apartment above a rear garage.
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