High-end flip adds more than $350,000 to Geelong character home
Owners who flipped an inner-Geelong character home will walk away having added more than $350,000 to its value in less than three years.
The owners upgraded the kitchen and bathrooms and did plenty of cosmetic work to update the three-bedroom Californian bungalow at 3 Lascelles Ave, Manifold Heights, for which they paid $835,000 in late 2022.
Now the 483sq m property near a Shannon Ave shopping strip is worth $1.2m, selling in a post-auction deal.
Oslo Property agent Curtis Hoare said the buyer snapped up the property after it had passed in at auction.
But Mr Hoare said there were other potential purchasers floating around to raise their interest following Saturday's auction.
'Post auction we had a bit of interest, it was pretty popular,' Mr Hoare said.
'We had about 30 buyers throughout the campaign. It was a beautiful, stunning period home.'
Mr Hoare said the owner had purchased it with the intention of flipping the property.
'They're a builder by trade and did an absolutely beautiful, contemporary renovation.
The build added $365,000 to the home's value, a 43 per cent increase in three years. In that same time, Manifold Heights median house price of $1.26m has increased 29 per cent, according to PropTrack data.
The home had already been extended by a previous owner, but the new renovations took that work to a new level.
Removing an original fireplace that was floating in the rear, open-plan living area added to the sense of space for a family.
The new kitchen showcased stone waterfall benches with an integrated breakfast bar, custom cabinetry and a freestanding Smeg dual fuel cooker.
Tiling and VJ panelling added to the style, complementing other features such as full height custom window furnishings.
Feature VJ panelling was also used in the main bedroom, which also benefited from an upgrade to the ensuite including a walk-in shower with dual heads.
The main bathroom has a floating dual vanity with underbench storage, dual mirrors with concealed storage, a tub and walk-in shower with a wall niche.
New electrical and plumbing work was also done inside the walls, along with diamond leaded windows and ducted heating and cooling.
Mr Hoare said the next level the renovations took the home to were an attraction for the buyers.
'Just the quality of the build itself – extremely high quality care and very thoughtful done as well.'
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