Mortgagee auction at Racehorse Road, Kensington failed to return a winner

Mortgagee auction at Racehorse Road, Kensington failed to return a winner
Mortgagee auction at Racehorse Road, Kensington failed to return a winner

Mortgagees are offering a one bedroom Kensington apartment in Melbourne's inner city fringe at $380,000 after a failed weekend auction marketing campaign.

It had been scheduled for 14 October auction but passed in without any formal price disclosure.

The comparable sales for 602/255 Racehorse Road were offered as:

503/ 255 Racecourse Road

$385,000

25/5/17

2. 7/ 11 Smith Street

$370,000

17/6/17

3. 10/ 7-9 Rankins Road

$385,000

27/5/17

The Racehorse Road listing is on the top floor of the Newmarket with basement parking.

Another top floor apartment, but two bedrooms, fetched $630,000 at auction earlier this year.

The 54 square metre apartment complex is perfect for either an owner occupier or astute investor, the Barry Plan listing agent, Eugene Louey suggests. 

It was listed as a $350 a week rental earlier this year.

Tags: 
Kensington Mortgagee Sale

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