Local drops $2 million on dilapidated Glen Iris home to knock it down

A local buyer has purchased a dilapidated Glen Iris home for over $2 million with plans to knock it down.

The old and crumbling weatherboard home is located in one of Glen Iris' best streets -- but that isn't the only reason top dollar was paid for an unliveable house.

The Melbourne block is considered huge for the area at 1006sqm and also has "impressive 51.09m depth."

The listing says that those looking to build have space for "up to [a] 5 bedroom home with a number of outbuildings."

The previously tenanted house with a chicken coop and shed has been in the same family since the 1960s, according to realestate.com.au.

Little Real Estate’s Andrew McCalman told realestate the property sold after less than a fortnight on the market, after attracting strong interest from across Melbourne.

Families hoping for a shot to build their dream home on a sizeable block, along with buyers hoping to build boutique townhouse developments were a big contingent of prospective buyers.

The location is in a prestigious leafy neighbourhood near Malvern village shops, trams, parks, city-bound trains and leading schools. It's known for tree-lined streets and easy access to Melbourne CBD.

"It generated strong competition with five proposals made on the property," said McCalman.

The price guide was $2 to $2.2 million and reportedly went well above the vendors expectations.

McCalman said the buyer had not revealed their plans about its future.

View the sold listing here.