In accordance with the wishes of the late owner, all proceeds from the sale of the property at 2 Alfred St., Woolwich, will be donated to animal welfare groups.
The guide price for this weekend's auction is $4.5 million, with charities including the RSPCA, Four Paws, PETA, the Australian Federation of Animals and the International Fund for Animal Welfare.
Simon Harrison and Joshua Jarvis of Belle Property have listed the property and Mr Harrison described the upcoming auction as an "amazing opportunity".
"This property is in a prime location in Woolwich and meets all the requirements for an owner-builder buyer to build their dream home.
"This is the first time in 50 years that it has been on the market, so the scarcity of this opportunity is significant."
The property is located on the outskirts of the city above a 1208sqm high street area where it is difficult to find a knock-down opportunity.
The late property belonged to owners Helen and Eberhard Schicha, who both died in 2021, and the couple bought the property in the 1980s.
Mr Harrison said the owners wanted to donate the proceeds from the sale of the home to charity as they both had a passion for animals and wildlife.
"Helen is passionate about animals and is a strong supporter of animal charities, while Eberhard is an entomologist with the NSW Public Service."
Helen grew up in Adelaide and met Eberhard while she was in Germany. They married there in July 1968 and eventually settled in Australia in the 1970s.
"The property borders Kelly Bush Park, which is a bushland reserve, so it's a lovely, private location on a cul-de-sac.
"It's right around the corner from a huge riverside park, with Hunters Hill Sailing Club, Woolwich Marina and Yacht Club, the boat launch, and the village restaurants and cafes all within walking distance."
"The owners bought it in the 1980s and the houses there are now in largely pristine condition. However, the land is exceptionally large, at 1,208 square metres, offering the owner-builder the opportunity to create his dream home (STCA).
According to the latest PropTrack House Price Index, national house prices continued to stabilise in April, rising 0.14% after a fourth consecutive month of increases.
The cumulative increase for 2023 now stands at 0.75 per cent. Strong migration, a tight rental market and limited supply are offsetting the impact of rapid interest rate rises.
PropTrack puts the median price in nearby Hunters Hill at $4.25 million, up 6.2% year-on-year.