Mona Vale beachfront apartment sells under the hammer for more than $1m over reserve.
Hot auction – 5/37 Surfview Rd, Mona Vale. Picture: Paul Boocock
A 1960s absolute beachfront apartment at Mona Vale, on Sydney’s northern beaches, sold at auction this week for more than $1 million over its reserve.
The two-bedroom apartment at 5/37 Surfview Rd, went under the hammer with a reserve of $1.6 million, and sold for a whopping $2.61 million, before a small crowd gathered on the beachfront lawn.
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Ryan Petrie, of LJ Hooker Mona Vale, said they had set a price guide of $1.4 million for the apartment, based on the sale of a similar apartment upstairs in the same building, last year for that amount.
He said there had been more than 200 inspections of the property in the four weeks leading up to the auction.
“We weren’t taking any offers prior, but we had no one talk those numbers (the sale price) prior to the auction,” he said.
The view from the deck.
Idyllic spot for an auction. Picture: Paul Boocock
Mr Petrie said 19 bidders registered for the Thursday afternoon auction, although the price quickly ran away from many of them and it came down to two buyers who really wanted the apartment.
“It was a really hot property, but it definitely exceeded all our expectations,” he said.
The ground-floor apartment is right on the sand and has uninterrupted views of Mona Vale Beach starting at the headland and rock shelf of the so-called Basin Beach.
Features include an open plan lounge/dining room, original kitchen, neat and tidy bathroom and single lockup garage.
The apartment has two bedrooms.
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The original kitchen.
It is located in a boutique complex of only 10 apartments, and is one of only two with absolute beachfront access.
The living room.
Open plan.
Mr Petrie said the result proved that Mona Vale was fast becoming a sought after location, especially in the beachside basin.
“People often drive past Mona Vale on their way to Palm Beach, and I think it has really become more on the map recently,” he said.
“The Mona Vale basin is a great spot tucked in behind the headland. This result is a real recalibration of the value of beachfronts, especially Mona Vale beachfront apartments.”