A tightly-held property just a stone's throw from Bar Beach has hit the market after being owned by the same family since 1956.
The three-bedroom, two-bathroom home at 2 Helen Street, Merewether offers arguably one of the best beachside locations in Newcastle, with ocean views and a position only 100 metres from Bar Beach.
John Kerr at Dalton Partners The Junction listed the property this week with an auction guide of $2.5 million.
The property goes to auction on-site on October 8.
Mr Kerr said the home is a rare opportunity for a buyer to purchase a property in one of Merewether's most coveted pockets of real estate.
"It's a firm contender for a knockdown rebuild project," Mr Kerr said.
"The position and potential are unlimited being 100 metres from the beach and being able to capture the magnificent ocean views."
The property itself has a long history that dates back to December 15, 1913 when Henry Peterson purchased land from the Merewether family, including the block at 2 Helen Street.
In 1956, couple Max and Pam Mitchell bought the property and its solid brick home despite it being in a "non-desirable" area and remained there for 66 years.
"It was a renovator's delight," Mr Kerr said.
"It was all they could afford and they both loved the ocean and the beach lifestyle. Being young and enthusiastic they set to work, enclosing verandahs, fixing plumbing and making the home habitable."
The couple raised four children in the home and continued to live there until 2010 when Max passed away, while Pam remained there until her death earlier this year.
Top recent sales for homes on the street include $3.6 million paid for 15 Helen Street and $2,775,000 for 21 Helen Street, both in August 2021. Last month, 41 Helen Street sold for $2.75 million.
The open house will be held on Saturday at 9.15am.
