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The two-bedroom home at 13 Kooyong Road in Geelong sold for $630,000.
Paying around $600,000 for a house less than 300m from the waterfront in central Geelong is an outrageous price.
It’s an affordable entry point for first-time buyers from Geelong, who snapped up a two-bedroom Californian bungalow for $630,000 after it was on the market for about a week.
The description of the property at 13 Kooyong Road states that it is located in one of Geelong’s most sought-after lifestyle regions.
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And there’s no denying that Western Beach’s foreshore is just a short walk from the main gate, while the town’s restaurants, shops and bars are also conveniently close by.
But there’s a catch: the house sits next to one of Geelong’s busiest transport corridors.
Ray White Lara’s agent, Miranda Williams, said the home had only been on the market for a week before it sold.
“They were a young couple just looking to get into the Geelong market and it was a great starter property, an original, beautiful house with character in this area,” she said.
The two-bedroom home at 13 Kooyong Road in Geelong sold for $630,000.
High ceilings, cornices and architraves are original to the house.
Ms Williams said it was a smaller block compared to many other houses on larger properties in the area.
“But it’s a great entry-level property that offers a lot of potential for creating something really special,” she said.
The house is the last before Kooyong Road becomes the seven-lane section of the Princes Highway before splitting into Mercer St and Latrobe Tce.
The Melbourne railway line runs parallel on the opposite side of the street.
There is a large tree on the vacant lot between the street and the side fence.
“There were easements on the property which meant it was not possible for a developer to come through the property and demolish it,” Ms Williams said.
The two-bedroom house at 13 Kooyong Rd, Geelong, is next to the Princes Highway as it approaches the city center.
A high wall separates the street from the courtyard.
“And part of that for them was a good entry into the local market.
“Of course there is the main street and everything that is there, but being close to the water is more lifestyle than they were looking for.”
Ms Williams said another party had shown interest in the property but had been unable to act quickly.
The two-bedroom house retained original features such as high ceilings and room proportions, but offered scope for increasing value through renovation.
