Edithvale the ‘German dream’: Father buys waterfront rental, scores $1m+ profit 7 years later

Marco Kuchenmeister with son Ollie and dog Sammi. Marco sold his Edithvale home under the hammer on Saturday. Picture: Wayne Taylor

Marco Kuchenmeister first sought out his luxury Edithvale home after living for a year in Rosebud.

He was looking for something closer to his work in Clayton and said he “always wanted something close to the water”.

“It’s the absolute dream for a German,” Mr Kuchenmeister said.

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The two-storey Edithvale home scored a massive premium on Saturday.

It features a chic kitchen with stone benches and Bosch appliances.

Vendor Marco Kuchenmeister with son Ollie and dog Sammi outside the upstairs living room where the auction was held. Picture: Wayne Taylor.

He has lived at the home for the past 20 years and raised his two children there — renting for 13 years and buying the property in 2015 for $1.2m, according to CoreLogic.

At a massive auction on Saturday, the home sold under the hammer for $2.631m — soaring $131,000 above the $2.5m bid that brought it onto the market.

OBrien Real Estate Chelsea agent Kimberley Ferguson said about 100 spectators attended the auction, held in the upstairs living room.

She said 110 bids were placed in just 17 minutes, with bidding kicking off at $2m.

Bids rose in $25,000 increments from there, before it was called on the market at $2.5m.

A couple searching for the perfect holiday home to share with their children and grandchildren placed the winning $2.631m bid.

Ms Ferguson said the couple missed out on the opportunity to buy a home in Chelsea last year, but were determined to secure this one.

“Most of the bidders for this (property) were seasoned buyers and were aware of the auction process,” the agent said.

She added that the buyers loved the views from the dwelling.

The uninterrupted views from the balcony.

One of the four spacious bedrooms.

A second, ground-floor living space.

Mr Kuchenmeister also talked highly of the views and said he didn’t want to sell, but was downsizing as his children were now grown.

“It’s the home of my kids,” he said.

“Every day in that house is monumental … when you look out the window, you don’t need television.”

He added that Edithvale Beach, situated directly in front of the home, was “one of the best beaches in the world”.

“You get the most beautiful sunsets everyday … my dog (Sammi) loves the beach, he has lots of friends down there.”

The two-storey pad features an open-plan living and dining area, four bedrooms, kitchen with stone benchtops and Bosch appliances, and two stylish bathrooms.

About 80 groups inspected the home over its campaign.

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emily.holgate@news.com.au

The post Edithvale the ‘German dream’: Father buys waterfront rental, scores $1m+ profit 7 years later appeared first on realestate.com.au.

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