Most of the potential buyers had plans to knock down and rebuild the four-bedroom home,which came with an indoor pool and sauna. It was one of 900 auctions scheduled on Saturday.
The auctioneer said the buyers,who used an advocate,had planned to blow all the other bidders away in an effort to secure the keys for the home.
The new owners plan to renovate the property,which had been held by one family for 50 years. By evening,Domain Group recorded a clearance rate of 55.9 per cent.
The home’s high-spec renovation prompted two bidders to push the price well beyond the quoted price range. It was one of 1028 auctions scheduled on Saturday.
The sellers paid $1.65m for the Californian bungalow in late 2020 and their renovation attracted five bidders,all locals,at auction.
The home,which had a guide of $3.5 to $3.8 million,had drawn the interest of young couples as well due to nearby schools.
There were three buyers who registered to bid on the home,including local downsizers,but it passed in at $3.29 million before eventually selling.
“It’s a very,very special home,” the agent said. “People who weren’t actually considering buying in the inner west,were actually considering this house.”
The four-bedroom house had a quoted price range of $2.4 million to $2.5 million,and passed in at $2.6 million.
The vendors of 4 Elledale Street were “extremely surprised” by the sale price,listing agent Helen Yan said. It was one of 1516 auctions on Saturday.
The new owners could create a contemporary home that retains the history of stables that have been on the site for 100 years.