1950s East Geelong home adds more than $200K in value in two years

A 1950s East Geelong home gained $235,000 in value in two years as local buyers swooped in to make the most of its cracking city fringe location.

A young Indented Head couple swapping coastal living for city fringe convenience will call 34 St Albans Rd home.

The pair paid $655,000 for 447sq m property set on a corner allotment close to Garden St and the South Geelong train station on Saturday.

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Price hopes were $620,000 to $650,000 for the updated two-bedroom, one-bathroom residence that last sold for $420,000 in 2019.

Despite plenty of interested onlookers, the couple were the only bidders on the day.

They put forward their opening bid of $630,000 as soon as Maxwell Collins, Geelong auctioneer Shaun Carroll opened proceedings.

After conferring with his vendor, Mr Carroll passed the property in, where it sold immediately afterwards for $655,000.

Mr Carroll said the buyers had their sights set on central Geelong.

“They wanted something with a bit of character and felt it was an affordable entry point into East Geelong,” Mr Carroll said.

A commercial coffee machine was part of the package, but it clearly wasn’t a deal breaker for one of the new owners.

“I asked him if he knew how to use the machine and he said he doesn’t drink coffee,” Mr Carroll said.

Inside, the main living area has hardwood timber flooring, high ceilings and a gas log fire, while the kitchen features a new DeLonghi 900mm oven and timber benchtops.

Other highlights include a study, sunroom, landscaped gardens and side entry via Richmond St.

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