Richmond Victorian terrace Villa D'Asti passed it at auction, now rented out for $850 a week

A double-storey brick balconied Victorian Terrace in Richmond has now been rented, having passed in at its recent auction and subsequently taken off the market.

Biggin & Scott Richmond said there were two auction bidders.

It was then listed for sale at $1.18 million, but has now been rented out for $850 a week, which roughly reflects a 3.75% yield.

Located at 286 Burnley Street, Villa D’Asti last sold in October 2010 for $1,125,000.

The four-bedroom property features a Caestar stone kitchen, open fireplaces and an alfresco courtyard garden.

Villa D’Asti was built circa-1885 and boasts grand archways and ornate detailing.

The property was listed with Edward Hobbs of Biggin & Scott Richmond.

The median house price in Richmond is $785,000, a growth of 13.1% over the past five years, according to RP Data.