It should be an easy move for a Balaclava tenant who bought her first home in an Art Deco apartment complex where she already lives.
Buyer Lou Curry won the keys to the unrenovated home at 7/1a Hawsleigh Ave for $662,000 as supportive neighbours cheered her on.
She said her heart was set on owning a piece of the complex that she’d come to love.
“I’ve lived in the building for just less than a year, but I knew it was where I wanted to be,” Ms Curry said.
“It’s my first home purchase so I’m very excited.”
The tenant-turned-owner battled hard for the two-bedroom apartment against two other determined bidders, while other prospective buyers never had a chance to bid.
There were more than 20 quick bids in increments of $5000, $1000 and $500 before the property finally sold $92,000 above reserve.
Ms Curry said she planned to live at the apartment, which is set in a picture-perfect 1930s building called Triona Court.
She will renovate the tired abode, which was sold as a deceased estate.
“I’m planning to restore it in a way that’s respectful to the Art Deco style and history of the building,” she said.
Listing agent Dion Besser said the impressive complex had attracted about 230 groups.
An auction crowd of more than 70 people was too large to fit inside the home, forcing the sale into the wind and rain.
The apartment was part of an old company share title, which was a predecessor to strata titles that some banks are reluctant to provide loans for.
Mr Besser said it didn’t appear to impact the sale or be an issue for many “cash” buyers.
There’s another chance to break into the popular complex, with the neighbouring apartment at 5/1A Hawsleigh Ave on the market.
An underbidder and other onlookers inspected the similar two-bedroom apartment after the auction.
With some extra updates, it’s listed for private sale with a $636,500-$703,500 price guide.
SUBURB PROFILE: Balaclava