A unit with a former Frankston retirement complex has sold for less than $ 100,000.
A Frankston unit has sold for the bargain of $ 99,500 in a deal in which the buyer has never even set foot.
The residence in Studio-Stijl-one of the cheapest home sales in Melbourne this year-consisted of an ensuite and small kitchenette and is part of a former pension complex on 14 Sandpiper Place.
Fosterroling real estate director Adrian Foster said he had filmed a mobile phone video of the property and sent it to an investor, who then bought the place of residence.
Related: The cheapest houses in Australia: where to buy a house for less than $ 100,000
$ 59,000 for Vic Hoarder House, one of the cheapest houses in the state
Why Frankston, Tarneit and Craigieburn Hot Picks are for the young real estate of Melbourne
The sale is the last in a series of deals that Mr Foster has affected within the complex, after mentioning two of his other units and selling it at a similar price in the past month.
Although some units of the building have kitchenets, others do not have a sink outside their bathrooms, although the complex has a shared commercial-like kitchen that residents can use.
Victorian law requires rental properties to have a sink in good condition.
![](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
The unit is in a former pension home.
Because the home is a tenant, interior photos of a similar unit in the complex were used in the sales campaign.
Mr. Foster said that the unit that has just sold has a long -term tenant, while another was bought by a single man.
“He sold his house for around $ 500,000, bought a house for $ 100,000 and now he can put $ 400,000 in his super,” said Mr. Foster.
While the five-digit Frankston offers in the former pension house attracted a lot of attention, they were only suitable for certain buyers, he added.
“I think somewhere in the permit it is intended as a student accommodation, but nobody cares about it,” he said.
“As an investment, they don’t grow too much in value.”
Another unit at 38/14 Sandpiper Place, Frankston, also sold this month for $ 99,500.
Some units have kitchenets.
Most other comparable Melbourne units are classified as a student accommodation and often require residents to be registered full-time or part-time at a recognized educational institution.
Last year Mr. Foster had the list for an apartment in Frankston that sold for $ 99,000.
It was in the ex-Ambassador Hotel on 325 Nepean Highway, which used to be used as a short-lived accommodation and developed a reputation for antisocial behavior and vandalism.
The former wedding location was later divided into private apartments that nowadays usually sell for between $ 70,000 and $ 250,000.
Register with the Herald Sun Weekly Real Estate Update. Click here To get the newest Victorian real estate market news directly on your inbox.
More: Vic Homebuyer threatens to lose deposits after ‘Stratum’ error in VHF
Modest Williamstown Home sells for $ 5 million
Ex-reckless Reno’d on Grand Designs Australia could be yours
#Melbourne #Cheap #Homes #Frankston #Unit #sold #100k #realestate.com.au