A 1930s character home in Point Chevalier is expected to be sold for just over $1 million despite its dilapidated condition.
The property located on Great North Rd is being marketed by Ray White as an exciting prospect for anyone looking for an opportunity to build on the city fringe.
With a section close to 700sqm, the four-bedroom property is said to be priced $250,000 below it's CV because the home is "ready to be retired".
The price tag reflects the fact the land is zoned for apartment and terraced housing, real estate agent Tim Hawes says.
The "site is bound to impress, dream big and develop your own masterpiece," the listing said.
"With the land alone valued at over $1.2 million, the vendor's realistic asking price could not be sharper and they want to see all and any offers."
The property was owner-occupied for many years but it was finally time for the family to let the property go.
Along with four-bedrooms, the single-storey home has one bathroom and a double garage.
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The living area comes with a kitchen and separate dining, along with a separate lounge.
Photos of two of the rooms show dated carpet, peeling and marked wallpaper, and shabby curtains, while the exterior brick cladding and peeling window frames also leave much to be desired.
The property also has a backyard decking area and ample privacy from surrounding bushland.
It is located just a couple of minutes' drive to the motorway on-ramps, walking distance to shops and public transport.