Owners of worst house in best street make $346000 profit in seven months

Owners of worst house in best street make $346000 profit in seven months

The owners of the worst house in the best street pocketed $346,600 in just seven months, with the derelict property in a prestigious Southport enclave snapped up ahead of auction for a staggering price. The neglected five-bedroom house at 24 Yacht St had been left to rot and the swimming pool resembled a swamp surrounded by weeds and debris, but that didn’t deter an eager buyer who splashed $1,226,600 in a swift cash transaction to stop the home going under the hammer. It had previously changed hands in February when it sold for $880,000 to a local developer who had planned to re-build but instead capitalised on the fast-moving market without the risk of house flipping amid the current construction boom. Ray White agent Conner Malan, who marketed the house …
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