Ascot Vale Californian Bungalow Sells for $2.61 Million, $460K Above Reserve

A renovated four-bedroom Californian Bungalow at 16 Brown Street in Ascot Vale was sold at auction on Saturday for a remarkable $2.61 million. This final price significantly exceeded expectations, coming in $460,000 above its set reserve.

Strong Auction Outcome

The property's listed price guide had been between $1,975,000 and $2.15 million. The vendor's reserve for the auction was established at $2.15 million, which the final sale price comfortably surpassed.

The sale price of $2.61 million was an impressive $460,000 higher than the reserve price of $2.15 million.

The Bidding Process

The auction for the renovated family home began with an opening bid of $1.95 million. Selling agent Ryan Currie of Nelson Alexander Ascot Vale noted that the property was swiftly declared "on the market" immediately after this initial bid was placed. The competitive bidding activity that followed primarily involved two families, driving the price considerably higher.