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Waterfront home in Sydney sells for under $700,000 – but there's a catch

Finding a property that doesn’t break the bank is hard to come by in Sydney, so you’d be forgiven for thinking a waterfront cottage selling for just $650,000 is some sort of joke.

But it was a Central Coast man who had the last laugh last week as he landed his own small piece of paradise near Church Point in Sydney’s northern beaches – where the median house sale price is $1,855,000.

The two-bedroom cottage, just 35km from the CBD, has been owned by the same family for many decades and understandably drew a lot of interest when it went on the market six weeks ago.

“We had so much interest in it,” PMC Hill Real Estate agent Melanie Marshall said.

The waterfront property has a million dollar view but sold for far less. Source: Realestate.com.au
The waterfront property has a million dollar view but sold for far less. Source: Realestate.com.au
So what's the catch? Source: realestate.com.au
So what's the catch? Source: realestate.com.au

“It needs some TLC, but it’s a real cutie and everyone that came to see it said it was so gorgeous.

But if you plan on driving by 46 Wirringulla Avenue in Elvina Bay to check out the quaint cottage, you’re out of luck.

The only way you can access the property is by boat.

The property is on a level 550sqm block with a grassed back yard. Source:realestate.com.au
The property is on a level 550sqm block with a grassed back yard. Source:realestate.com.au
The property isn't accessible by car. Source: Google Images
The property isn't accessible by car. Source: Google Images

“It’s all about the location,” Ms Marshall added.

“It’s not so much about the (general state of the) property market — it’s about the lifestyle,” she said.

Ms Marshall said there was a growing demand for offshore properties for those who wanted to escape the Sydney rat race without having to venture too far.

Properties in Elvina Bay seldomly come on the market. Another two-bedrom cottage sold for $560,000 in August last year.

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