{"id":7067478,"date":"2026-09-26T13:55:51","date_gmt":"2026-09-26T13:55:51","guid":{"rendered":"https:\/\/peraltafinancing.com\/uncategorized\/derelict-sydney-properties-fetch-millions-under-hammer-as-builder-secures-unlivable-coogee-cottage\/"},"modified":"2026-09-26T13:55:51","modified_gmt":"2026-09-26T13:55:51","slug":"derelict-sydney-properties-fetch-millions-under-hammer-as-builder-secures-unlivable-coogee-cottage","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=7067478","title":{"rendered":"Derelict Sydney properties fetch millions under hammer as builder secures unlivable Coogee cottage"},"content":{"rendered":"


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Sydney\u2019s filthiest dumps just fetched millions<\/p>\n<\/div>\n

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A builder walked away with the keys to a Coogee dump for a whopping $3.315m on Saturday. <\/p>\n

A builder walked away with the keys to a Coogee dump for a whopping $3.315m on Saturday. <\/p>\n

From the outside, the property looks like a cute family cottage that maybe only needs a fresh lick of paint. <\/p>\n

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29 Melody St Coogee sold for $3,315,000<\/p>\n<\/div>\n

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Stepping inside is another story. <\/p>\n

Listing pictures show an unlivable property with dusty, scratched floors and grimy walls throughout. <\/p>\n

MORE: Homeowner demands $6.5m for modest house<\/a><\/p>\n

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The living room of the property.<\/p>\n<\/div>\n

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The kitchen is a dated style with a wooden splashback and blue bench tops. <\/p>\n

Walking through the front sunroom into the bedroom, you\u2019ll find grime on the walls, yellowing skirting boards and two toned wooden floors covered in marks. <\/p>\n

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Bedroom one opens out into the sunroom.<\/p>\n<\/div>\n

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The property\u2019s kitchen.<\/p>\n<\/div>\n

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The bathroom is a modern with white tiles reaching the room and a geometric pattern on the floor. There\u2019s a small shower and a toilet with an adjacent toilet-shaped sink at the same height. <\/p>\n

The backyard is paved with old, red bricks and has a small patch of grass growing in an otherwise dirt area. <\/p>\n

Foliage is growing up into the laundry window at the back of the house and moss is growing in sections across the lower walls. <\/p>\n

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The backyard with the window to the laundry on the far right.<\/p>\n<\/div>\n

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The property is considered a knock down with \u201cnot much to keep\u201d and the tradie buyer is \u201clooking to transform\u201d the home.<\/p>\n

A crowd of 50 to 60 people and nine bidders gathered around the property on Saturday. The bidding opened at $2.7m and crept past the $3.2m reserve price. <\/p>\n

It\u2019s understood the property fell into disrepair as the seller grew older. They have now moved into a nursing home after 32 years in the property. <\/p>\n

29 Melody Street was last sold for $350,000 in 1993. <\/p>\n

MORE: Sydney\u2019s most popular streets revealed<\/a><\/p>\n

West Sydney bomb sells for $905k<\/h2>\n

A derelict home in Sydney\u2019s western suburbs sold for $105,000 more than what the sellers were willing to accept. <\/p>\n

Listing pictures show rotting floorboards, missing walls, considerable grime and spider webs.<\/p>\n

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46 Penfold Street, Eastern Creek sold for $905,000<\/p>\n<\/div>\n

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The median house price in Eastern Creek is $1.07m according to Cotality but this bomb of a property on 46 Penfold Street still caught $905,000 at auction. <\/p>\n

When you walk into the property three bedrooms are on the right and a living rooms is partitioned off from the shared dining and kitchen space. <\/p>\n

MORE: Sydney\u2019s $100m mansion market surge<\/a><\/p>\n

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One of the property\u2019s bedrooms.<\/p>\n<\/div>\n

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The living room and the door to the kitchen\/dining on the right.<\/p>\n<\/div>\n

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The bedroom walls, roof and ceiling are covered in marks and need a new coat of paint. <\/p>\n

The living room has a water stain on the roof and dirty floorboards. <\/p>\n

Heading through the door takes you into the kitchen where the floorboards are showing signs of rot and the walls appear to be growing mold. <\/p>\n

A section of the kitchen wall is missing and a pile of rubbish sits in the corner behind the freestanding dual stove and oven. <\/p>\n

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The kitchen and free standing oven.<\/p>\n<\/div>\n

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The bathroom walls are cracking in places and the pale blue tiles are mostly intact. <\/p>\n

The tiles are decorated with pink flowers and match the pink bathtub and sink. <\/p>\n

The large backyard also includes a few sheds, one of which is missing a chunk of the wall.<\/p>\n

Saturday\u2019s auction attracted five registered bidders with two actively placing bids. <\/p>\n

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The property\u2019s bathroom.<\/p>\n<\/div>\n

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Agent Basel Nahas of Laing + Simmons said the buyers were from nearby Rooty Hill. <\/p>\n

\u201cThe bought it to knock it down and build their family home so they were very excited,\u201d Mr Nahas said. <\/p>\n

\u201cThe sellers were trustee and guardian so obviously it would have been a deceased estate.<\/p>\n

\u201cIt\u2019s a nice block of land, 702 sqm is quite spacious and it\u2019s a family kind of street ao its very popular.<\/p>\n

\u201cIt was a nice little pocket in a small suburb,\u201d he said. <\/p>\n

MORE: Sydney\u2019s \u2018igloo home\u2019 sold for $3.5m<\/a><\/p>\n

Sydney socialite sells beach front dump for $20.25m<\/h2>\n
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Socialite Di Maloney sold 9 Kenneth Street, Tamarama for $20.25m in a mortgagee in possession sale.<\/p>\n<\/div>\n

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A derelict beach front property owned by a prolific Sydney socialite sold under the hammer for $20.25m \u2013 a whopping $8.95m less than when it broke the Tamarama suburb record in 2022.<\/p>\n

The block of five rundown apartments belonged to party girl Diane Maloney but were repossessed and sold as a mortgagee in possession. <\/p>\n

Ms Maloney has reportedly run into money troubles and recently begun selling off multiple properties to pay off her debts, including the Plaza Hotel (formerly Star Bar). <\/p>\n

READ THE FULL STORY HERE<\/a><\/p>\n

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The block of five apartments includes a detached shack facing the ocean.<\/p>\n<\/div>\n

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It\u2019s understood Ms Maloney\u2019s DJ son had been living in the property. <\/p>\n

A disco ball in the dining room, peeling paint, a backyard hot tub, a taped up \u201cVIP Area\u201d sign on the back deck, a roof gutter in the front garden and fresh shag carpet inside.<\/p>\n

The condition of 9 Kenneth Street creates an odd contrast but gives a glimpse into what his lifestyle may have been. <\/p>\n

This auction was the perfect insight into the higher end of the market where prestige properties have been struggling to sell in recent months.<\/p>\n

MORE: Mosman\u2019s $50m buyer sells his former home for $17m<\/a><\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

Sydney\u2019s filthiest dumps just fetched millions A builder walked away with the keys to a Coogee dump for a whopping $3.315m on Saturday. A builder walked away with the keys to a Coogee dump for a whopping $3.315m on Saturday. From the outside, the property looks like a cute family cottage that maybe only needs […]<\/p>\n","protected":false},"author":1,"featured_media":7067479,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[188274,88],"tags":[8136,228687,4525,228686,44182,938,11169,20228,14358,16388,41595],"dealstore":[],"offerexpiration":[],"class_list":["post-7067478","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-new-south-wales","category-news","tag-builder","tag-coogee","tag-cottage","tag-derelict","tag-fetch","tag-hammer","tag-millions","tag-properties","tag-secures","tag-sydney","tag-unlivable"],"yoast_head":"\nDerelict Sydney properties fetch millions under hammer as builder secures unlivable Coogee cottage - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=7067478\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Derelict Sydney properties fetch millions under hammer as builder secures unlivable Coogee cottage - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Sydney\u2019s filthiest dumps just fetched millions A builder walked away with the keys to a Coogee dump for a whopping $3.315m on Saturday. 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