A Lake Illawarra home, reportedly in the same family since the 1970s, has new owners.
The property was in a "state of disrepair", but found a first home buyer willing to get their hands dirty in order to get into the market.
The home is located at 12 Albert Street, Lake Illawarra.
The single-level, three-bedroom north-facing home sits on 584 square metres.
It sold for $570,000 earlier this week. CoreLogic records show the home sold after 44 days on the market.
Selling agent, Matt Hutchinson from First National Coastside Shellharbour said the home had "fallen into disrepair", was in "very original condition" and in desperate need of some TLC.
"It was original carpet in the bedrooms... It was in a state of disrepair," he said.
"It was the original kitchen from 50-odd years ago, with straight from the 1960s wallpaper that was on there."
The marketing noted that the property was located close to parks, schools, shops and transport, and to "plan your dream renovation and live the lakeside lifestyle".
It had been owned by the same family since the 1970s, with minimal work done to the home since then.
Mr Hutchinson said it sold to an out-of-area buyer; a first home buyer who is a tradie with plans to renovate.
The home had been guided at $600,000.
"We had about 100 people through it, but a lot of people just didn't want to take on that amount of work," Mr Hutchinson said.
According to CoreLogic, currently the median sales price of houses in Lake Illawarra is $687,500.
Mr Hutchinson said Lake Illawarra was a popular location as it was so close to the water, with a number of first home buyers willing to buy properties in the suburb that required some work.
"This latest home needed someone with trade skills, and wasn't afraid of getting their hands dirty," he said.
There have been other sales results in the region for homes in need of a facelift, such as an "uninhabitable" property in Albion Park spawning a bidding war earlier this month.
The home was snapped up for above the reserve price, as two keen bidders fought it out.
The home at 41 Moles Street, Albion Park sold for $552,000, which exceeded the reserve price within three bids.
Selling agent, Ben Frawley from Harcourts said it was an "uninhabitable" home, and had been unoccupied for several years.
Despite its current state, the sale perhaps represented a bargain within the suburb, where the median sales price of houses is $852,500, according to CoreLogic.
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Brendan Crabb
I'm a member of ACM's national property team, covering the Illawarra and South Coast. Based in Albion Park, NSW, I write about exciting, interesting or just downright quirky properties that have been listed for sale, major sales, market trends, auctions and more. One of my favourite aspects of being a journalist is I believe everyone has a story to tell. What's yours?
I'm a member of ACM's national property team, covering the Illawarra and South Coast. Based in Albion Park, NSW, I write about exciting, interesting or just downright quirky properties that have been listed for sale, major sales, market trends, auctions and more. One of my favourite aspects of being a journalist is I believe everyone has a story to tell. What's yours?
