8 Addison Street, ELWOOD
BOUGHT* - $1,480,000
When the opening bid of $1,200,000 is trumped by $100,000 you know that your are in for a strong auction. The price raced from $1,300,000 to the sale price of $1,480,000 in record time. Four bidders for this attractive property with lots of promise.
4
| Saturday 27 February 2010, 11:30pm | |
| Kaine Lanyon, Bennison Mackinnon | |
| $1,200,000 | |
| $1,300,000 | |
| Under Hammer | |
| 4 | |
| 60 | |
| Strong |
James Home Ratings Report - 8 Addison Street, ELWOOD
618
3
1
1
367sqm
Ralph DoubellBuyer Advocate
03 9804 3133
8 Addison Street, ELWOOD
"This period house has been well renovated to provide comfortable living as it is. If you have a reasonable budget then build a second story with an adequate bathroom and spend some money on improving car access from the back lane. If that happened you would have a comfortable property on a small block in a good part of Elwood. Street is a beauty and that will underpin value here. Working through values 8 Addison is a common offering in Elwood - side by side in need of reno on 300sqm - albeit in a great location - Addison with Ruskin regarded by many as the best in this part of Elwood.
So 24 Addison sold for $3300 per sqm improved value slightly smaller land size in October of last year. Early in the year 100 Ruskin was 2500 sqm but land has gone up 20% since then. 68 Ruskin St a bit smaller land sold for a tick over $1.2m but before the Elwood market had the Xmas push. And there was a Xmas push with 4 Lindsay selling at over $3000 sqm - land component only. What's the home worth? A Renovated version of this in my opinion is $1.8m and you can prove that with 14A Joyce St, 30 Wave etc. How much to renovate $400,000. Maybe so is the building worth $250,000? I think so."
BOUGHT* - Indicates property has been bought. We are a buyer rating company and a buyer advocate company only, and we use the word bought instead of sold to give the website a buyer flavour. We do not buy all the properties listed on this website, therefore we often rely on an advertised price or the selling agent to indicate the bought price and occasionally the result may be inaccurate.
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