Dilapidated St Peters terrace sells for almost $1 million

Dilapidated St Peters terrace sells for almost $1 million
Staff reporterDecember 7, 2020

A two bedroom St Peters terrace auction was brought forward by a week to sell for $985,000.

It ranked as the second most-viewed property in the country after its listing on realestate.com.au.

Over 180 individual groups came through the home.

The dilapidated 69 Sutherland Street terrace is so run down the selling agent had attendees had sign a waiver to enter at their own risk. 

It has three bedrooms, and sits on a 117 square metre block. It was built in 1979. 

There was an initial $700,000 price guide through RRE Properties’ Michael Michos and Jim Michos who said it sold for $240,000 over reserve.

The property has missing floors, damaged walls, holes in the ceiling and no indoor toilet - It was marketed as "a blank canvass with great fundamentals."

St Peters's median house price is $1.09 million, however the inner-west suburb has not seen the downturn present in much of the country.


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