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43 Arthur Street in Perseverance Valley was sold for $1.535 million before the auction.
A house that even its agent described as “rough” was sold for $1.535 million before the auction, which shows how booming Brisbane is and how difficult it is for buyers now.
The four-bedroom house at 43 Arthur Street is located in the bustling inner city suburbs of Fortitude Valley, home to the city’s main meeting place, only 1.5 kilometers from the central business district.
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The kitchen is very practical.
The property sits on a 465-square-meter plot and was marketed for its development potential. Many buyers immediately realized this, as the Brisbane blockade seemed to be extended to the weekend.
The agents Emmanuel Calder and Angela Rundle of Mane Property Clayfield were originally scheduled to auction at 11 am on Saturday. If they were not sold in advance, an eager local buyer (who had been looking for a decorator for a while) refused to let this go.
The house has been owned by the same family for 26 years.
“We were originally scheduled to participate in the auction on Saturday (July 3),” Mr. Calder said. “The owners don’t want to risk a lockdown (which is true), so we basically told all buyers that this is what is happening. The accepted offer was US$1.535 million.”
According to CoreLogic’s records, the owner purchased the house for US$155,000 in January 1995 26 years ago. Three months after the Covid-19 outbreak, the value of the land was US$910,000.
It was sold 26 days after it was listed as having “outstanding renovation potential” and listed as LMR2 or a low-to-medium-density residence that allowed three-story mixing.
The residence is a short walk from the central business district and is the best place for Brisbane nightlife.
“In the past few years there have not been too many sales, and they will not appear often. It is difficult to judge the price because the location is very similar to Tenerife and the new farm. The demand is so strong. The expectations of the owners have been met and very smoothly Passed.”
He said that successful buyers are locals and have been looking for them for some time.
“They will rent it out in the next 12 months and then renovate it to turn it into a family home. They have been looking for a long time before they found a good decorator in the area.”
There are four bedrooms at 43 Arthur Street, Fortitude Valley.
Demand is so strong. Mr. Calder has already signed two other houses on Arthur Street, one of them is No. 139, a two-bedroom, two bathrooms, but they have not yet been sold unconditionally.
“It’s not unconditional, so I can’t disclose the price. The owner-occupier is very interested. It went to a local couple. They moved from Indooroopilly and they have been looking for it for a long time.”
Arthur Street in Fortitude Valley has seen three houses signed through Mane Property Clayfield.
The other property at 135 Arthur Street is a five-bedroom house that has been contracted with a buyer from Sydney who “just sold there and can’t wait to go to Brisbane , Realizing how good it is and how far the dollar can go here”.
Home sales in Fortitude Valley are very rare. Realestate.com.au has no median, which means that in the past year, fewer than 10 homes were sold there.
The large backyard is ready to be transformed into a multi-million dollar property.
Hardwood floors, 3.3m high ceilings, solarium, study room, open plan, rear home office space, spacious backyard, downstairs studio and street tandem parking space for two cars, you can almost see Much better than 43 Arthur Street will become the renovated street.
“Using the spacious block for further development, renovation or renting, as a reliable investment, given the excellent inner city location, you can’t go wrong. Full of so many opportunities,” is the way the agent listed.
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