Abbotsford, Victoria mortgagee home sold for $78,000 loss

An Abbotsford, Victoria mortgagee apartment has been sold for $351,000.

The home last sold for $429,000 when it was purchased off the plan in 2011.

As a result this sale marks a $78,000 loss for the vendor.

Chris O'Shaughnessy and Emily Sayers of Biggin & Scott marketed the one bedroom one bathroom apartment.

Situated at 107B/609-615 Victoria Street, the home was built in 2014.

Featuring 50 square metres of internal space, the home was offered to the market seeking $320,000.

Located in the Green Square complex, the north facing home has access to services like a heated pool, gym, communal gardens, BBQ, library, meeting rooms and private entertainment facilities.

The home was first listed as a rental shortly after its purchase in 2014 seeking $390 per week and later that year and in 2015 for $380 per week. 

Later in 2016 it sought $390 per week and most recently in 2018 $395 per week. However according to the listing the unit has "rent potential up to $450 per week".

The median sale price for a unit in Abbotsford is $496,500, according to the latest CoreLogic data.