The 2,637-square-metre Taloombi Street estate almost commands beachfront prices, albeit with freehold pathway access to Gunnamatta Bay.
It's been listed through McGrath agent Sean Egan for December 15 auction. Around $5.95 million is tipped.
Taloombi Street beachfront prices hit $6.9 million in 2007, with four subsequent sales above $4 million.
The Cronulla house, with Queensland maple timberwork plus diamond-shaped leadlight windows, sandstone fireplaces and ballroom, comes with a tennis court, pavilions and pool.
The house initially hit the headlines in the early 1990s when a mortgagee sale in 1991 secured $970,000 after the catering industry manufacturer Patricia Poulos, founder of the Centre Unity Party, lost the house pursuant to her Commonwealth Bank indebtedness.
The $360,000 debt, with interest, had soared to $1,019,000 during lengthy contest court hearings.
It was last sold in 2006 by the Burke & Shute estate agent Chris Burke who'd had the house leased briefly to $2,000-a-week tenants Robert Bassili and Nicholai Dimitri Popov, who'd ran the ill-fated Radisson Maine property lending group.
The house was designed by architect Spencer Spasfield for Reginald and Florence Snelling who'd operated a Glebe printing business.
The house was completed in stages, including the addition of the ballroom in 1925.