Clover Moore sold her Redfern terrace for $4 million, earning an almost 100x return on the property.
The Sydney mayor, 79, and her husband, retired architect Peter, put Redfern Terrace up for sale on November 2.
The three-bedroom, two-bathroom terrace sold at auction through Florance Wong of Progress Real Estate on Saturday for $4 million, which was the amount Moore previously said she was expecting.
She said she was happy with the result, the Daily Telegraph reported.
Two of the attendees submitted bids after bidding opened for $3.8 million.
Moore bought the terrace for just $45,000 in 1978 and has owned it for nearly five decades.
The house is a Federation-era terrace on leafy Kepos Street, in a rapidly appreciating inner-city suburb. Marketing called it “the best downtown living.”
More than 2,500 people viewed the property on realestate.com.au.
Ms Moore remains firmly entrenched in her role as Mayor after securing a historic sixth term in office in the September election.
Ms. Moore’s family has been living in the house, while she and her husband live in a nearby apartment complex.
Ms. Moore and her partner undertook nearly $230,000 in renovations more than a decade ago on the property.
It is full of period elements. Intricate woodwork lines both the interior and exterior of the house.
A formal dining room and living rooms feature marble fireplaces and there is also an attic office.
Decorative cornices and rose windows line the large terrace rooms and an original cedar and pine staircase connects the main level, with a brass chandelier hanging above it.
Ms. Moore and her partner undertook nearly $230,000 in renovations more than a decade ago on the property, and her family currently occupies the home.
It is also the site of Ms Moore’s controversial attempt to halve the Moore Park golf course from 18 holes to just nine to open up more of the city’s green spaces to public use.
The Moores have been living at their nearby Moore Park Gardens apartment complex, which they purchased through Ms. Wong for $900,000 in 2014.
The apartment is one of 560 units in the development which took place on the former Reschs Brewery site in east Redfern.
Mrs Moore has been married to Peter Moore for some 55 years and remains firmly entrenched in her role as Mayor after securing a historic sixth term in office at the September election.
He has had the keys to City Hall for more than 20 years.