This tired old semi in Manly just sold for a whopping $2.22 million. Source: News Corp Australia

More than 70 people turned out for the auction of 24 Bonner Ave. Source: Supplied

About 70 people crowded into the front yard of 24 Bonner Ave on Saturday for the auction of the four-bedroom home, which until recently was abandoned and boarded up to deter squatters and vandals who had already done plenty of damage.

Mark Madsen from Raine & Horne Manly inside the Manly semi. Source: News Corp Australia

Mark Madsen, of Raine and Horne Manly, said there had been huge interest in the property, which is believed to be about 100 years old.

More than 30 contracts were issued prior to Saturday’s auction, and well over 200 inspections had taken place.

“We had about 10 registered bidders on the day, which was a good result,” said Mr Madsen.

This mural of a flying horse is believed to have been drawn in 1977. Source: News Corp Australia

The property sold under the hammer to an investor who splits his time between Manly and outer Sydney. He paid $2.22 million, well over the $2 million reserve.

Mr Madsen said the vendor was very happy with the result.

The new owner planned to restore the home and rent it out in the short term, before making it available to family members, he said.

There’s a job ahead restoring this once lovely home. But it has good bones, with double brick construction, 10-foot ceilings and original cornices.

The new owner will need more than just a paintbrush. Source: News Corp Australia

There is no question it will need new bathrooms, a kitchen and plenty of fresh paint to cover the extensive graffiti and vandalism.

The home has some high- class neighbours, including the northern beaches’ most expensive apartment.

Mr Madsen confessed he had fallen in love with the home, despite its blemishes.

“I thought it was just magnificent, I would have loved to have bought it myself,” he said.