Mile End character home meticulously restored in unusual flip – realestate.com.au

News Corp Australia Network

House flipping is usually a quick job – which is why this Mile End project is different.

The 1910-built villa at 38 Falcon Ave was restored and extended over a two-year period before being listed for sale again.

With old and new seamlessly blended throughout, selling agent Thanasi Mantopoulos said the time taken to breathe new life into the home was worth it because properties like this one rarely hit the market in the area.

“We’ll see maybe one or two a year of that quality,” said Mr Mantopoulos, of LJ Hooker Mile End-Woodville.

“Usually flips only take six to nine months but it was a passion project for the owners so they’ve been working on it for a couple of years.

“It was quite rundown before they bought it.”

The owners purchased the dated character home in January 2022 for $737,800, according to property records.

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Mr Mantopoulos said they were attracted to its location, character facade and potential.

“They live in the west so they believe in the west,” he said.

The four-bedroom, two-bathroom house is on a 502sq m block.

Three of the bedrooms, including the master with ensuite, and a shared bathroom are in the original part of the home.

The extension includes the fourth bedroom, a central patio, and an open kitchen, family and dining room that flows through sliding glass doors onto an outdoor alfresco space.

It also has a small grassed area in the backyard that leads around to the front of the home, as well as a two-car tandem garage.

While modern, Mr Mantopoulos said the owners were determined to retain many of the villa’s original character features.

“A lot of the door handles, the lattice work at the front – a lot of it was restored,” he said.

The property will go to auction on January 28 at 10.30am.

According to latest PropTrack data, Mile End’s median house price is $901,000 and has climbed 40.2 per cent over the past three years.