Geelong West home offers buyers great hope of strong returns

Chances of securing a prime, renovated character home about 150m off Pakington St are few and far between and proved too good for several buyers keen to break in to Geelong West to ignore.

Three bidders raised a hand for the two-bedroom weatherboard house at 100 Hope St, which sold for $940,000.

Gartland Geelong agent Nathan Ashton said all the bidders were keen on the property’s investment credentials, although one was looking for a permanent home down the track.

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“It was more the location. It just speaks volumes for everyone looking in that area,” Mr Ashton said.

“And that was the sentiment for me – all those looking were investors and were looking at it to buy there obviously because they can get a lease there easily.

“The owner occupiers looking at it going well didn’t want to move in just yet.

“But it’s hard to find anything in such a good spot, so maybe they can rent it out and move in down the track.”

The property was ready for its next owners to make an immediate start.

“It had everything done to it, stumping, wiring, plumbing, plastering – it was just a really a really nice home,” Mr Ashton said.

“It was two bedrooms, but they were really big bedrooms.

“It just really suited somebody wanting to downsize or somebody that wanted to get a foothold in that location.

“And if they wanted to tweak the floor plan, they could as well.”

The 37-sqm property was listed with $880,000 to $960,000 price hopes.

It’s 150m from Pakington St and only moments from Sparrow Park.

The house showcased polished timber floorboards and character features such as leadlight windows, timber fretwork and ornate gas log fireplaces.

The bedrooms have built in wardrobes and share a bathroom that’s been renovated.

The rear of the home offers an open kitchen, dining and sitting area that flows through to an outdoor entertaining zone.

The sale was close to Geelong West’s $957,000 median house price. PropTrack data shows the market holding up well in Geelong West, with the median house price rising 3 per cent in the past 12 months.