The unit on 3/25 May St, Moe needs a lot of TLC.
An uninhabitable unit in the Gippsland region has hit the market for a bargain $165,000.
However, the new owner of the two-bedroom house will have to roll up his sleeves to transform the dilapidated home.
The home at 3/25 May St, Moe, has rotting bathroom cabinets, stained walls and kitchen furniture, a partially damaged wall and broken floor tiles.
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Robert Sim, director of John Kerr & Associates, said he was unsure how the unit came to be in its current state as he sold it on behalf of State Trustees Victoria.
The state-owned company provides financial and legal services to Victorians who are unable to manage their own affairs due to disability, illness or other circumstances.
Records show the house, with an open-plan living room, kitchen and dining room, a combined bathroom, laundry room and carport, last sold for $26,000 in 1997.
According to PropTrack, the city of Moe has an average unit price of $241,250.
![3 of May 25 St, Moe - for the herald of Sun Real Estate](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
Records show the device last sold for less than $30,000 in 1997.
State Trustees Victoria have put the house on the market.
Mr Sim said he had received inquiries about the house from buyers from the metropolitan and interstate regions, attracted by its affordable price and potential for renovation.
“I assume it will be a type of buyer who is probably trade-based and intends to do the work necessary to get it into shape,” he said.
The buyer would also likely refurbish the unit to keep as an investment property or sell after the flip, Mr Sim added.
The property is close to Moe Primary School, the town’s train station and Moe Racecourse.
Many buyer questions come from traders.
He said there was sufficient demand for rental properties in Moe and the surrounding area
a well-presented two-bedroom unit in a good location, usually rented for between $300 and $350 per week.
Mr Sim said it was not common to see a property for sale in such a dilapidated state in the area.
“It’s one of those opportunities for the right buyer that you don’t come across very often; it’s quite rare here,” Mr Sim said.
The copy will be auctioned on Saturday, November 15 at 11 a.m.
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