Elizabeth Bay price doubles after renovation
Jonathan ChancellorDecember 7, 2020
Century 21 Armstrong-Smith secured the recent sale of 11/27 Billyard Avenue, Elizabeth Bay at auction.
The vendors purchased the property for $615,000 three years ago as a shell and completely renovated to make it a 75 square metre two bedroom plus study apartment. It is in a 1930s block of 11 apartments.
They had over 240 people inspect the property during the campaign with about 20 contracts issued to potential buyers.
Around 12 registered to bid at the auction.
The bidding opened at $900,000 and the reserve of $980,000 was soon surpassed with a $1.3 million selling price.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.