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An unrenovated 1980s Jan Juc house smashed its auction reserve by $1m, as cashed-up buyers jostled to unlock premium ocean and golf course views.
The multi-level brick residence at 21 Carnarvon Ave sold under the hammer for $3.301m in a huge result that astounded many in the crowd.
Natural Real Estate, Torquay agent Chris Henson said it was a “standout”, especially as a fully renovated house next door sold for $3.725m last year.
Most of the houses around 21 Carnarvon Ave, Jan Juc, have already been renovated or rebuilt.
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The position is considered one of Jan Juc’s best, with uninterrupted views over the RACV Torquay Resort and the swell at the nearby surf beach, which is a short, flat walk away.
Mr Henson said most buyers were looking to renovate the three-bedroom, two-bathroom house or knock it down and start again.
“We had five or six bidders altogether and we two people fighting it out at the end. There was about 100 bids altogether,” he said.
A $1000 final bid was enough for the winning bidders to edge out the competition.
Mr Henson said while the level of interest during the campaign suggested the sale price might land above the $2.3m reserve, the agency “certainly saw nothing with a three in front of it”.
There’s no sign of neighbours from the first floor deck.
The golf course is in view from the open-plan living room.
He said a decent level of swell during the campaign had worked in the vendor’s favour as the wild waves were in view from the 691sq m property.
“There are keys areas where people have money so for something like that and, we knew it would, it drew a lot of people out of the woodwork,” he said.
“Within the period of the campaign we had 80 inspections through the period so it was strong all the way through.
“We find that whether it’s old Torquay prime places or Jan Jun prime places local people really understand the rarity and opportunity so I would say the vast majority were locals trying to buy it.”
The cosy kitchen has a dishwasher and older style wall oven.
You can walk to the nearby RACV Torquay Resort for coffee.
The main bathroom is pretty in pink.
He said almost all the homes in Carnarvon Ave had already been renovated or redeveloped, making this property a rare blank canvas.
An open-plan living zone and main bedroom suite on the top level of the house take in the best golf course and ocean views.
Another rumpus room is zoned with the minor bedrooms on a lower level, while a large carport has room to store caravans, boats and other watercraft.
The sale of the neighbouring four-bedroom house at 23 Carnarvon Ave, Jan Juc, in March last year was the first trade in the tightly-held street in five years.
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The post Original 1980s Jan Juc home smashes reserve by $1m appeared first on realestate.com.au.
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