![](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1024 768"%3E%3C/svg%3E)
A small 17sqm apartment on Bondi Beach has been sold for an astonishing price.
A small unit on Bondi Beach has sold for an astonishing price, with the winning bidder nearly missing out on the auction to find parking.
The Gould Street unit was auctioned Saturday for $511,000, more than $41,000 above reserve.
Angus Gorrie, agent for Ray White Eastern Beaches, said four of the five registered bidders had actively participated in the auction, with the successful bidders being investors and all under bidders being first home buyers. He said that it became.
“The guy who bought it showed up near the end of the auction because he couldn't find a park,” he said.
This small apartment is located in a security block built in 1960.
The single room sold for $511,000.
more
Engaged couple scores 'unusual' purchase in Sydney's east
Point Piper's owner appears on the $20 bill
“He signed up right away and ended up winning at the $500,000 level with a $1,000 bid. It was a cracker.
“This unit has received a lot of media attention and is being called a shoebox. It's a $511,000 one-room unit and doesn't even have a balcony.
“The biggest draw is the location. The rent is $600 a week.”
The apartment was last sold to an investor in 1996 for $96,000 and was listed on the rental market in 2009 for $220 a week, according to property records.
Single rooms with private bathrooms measure up to 17 square meters throughout the apartment, with the widest walls measuring just 3.7 meters.
Floor plan of a small apartment.
There's not much space for furniture other than a bed and a small table.
more
'Stunningly beautiful': Australia's 20 best pools revealed
'We're not slowing down': Sydney's year of unstoppable huge sales
With little space for belongings and buyers and prospective renters facing the loss of furniture, the small kitchen has room for an oven, stove, sink and small fridge.
Interested buyers were drawn to the location, which is just 100 meters from Bondi Beach.
“With its sunny exterior and large communal balcony for entertaining, this apartment is perfect as a beach pad or as an investment in one of Sydney's most desired lifestyle locations,” the property listing says. Masu.
“With strong rental returns and first-class status, this is a great opportunity to secure a Bondi Beach property.”
Mr Gorrie said it was “unusual” for a property to sell for $500,000, let alone so close to Bondi Beach.
However, he said he had sold several 13 square meter homes in Darling Point a few years ago for the $330,000 range, and they were not the smallest properties he had ever sold.
The Bondi Beach apartments are located in a 'boutique' security block built in 1960.
The sale comes after a dilapidated penthouse on Wilga Street in Bondi Beach sold for $7.1 million ($3.1 million over the reserve price) to a buyer who wanted to pass it on to his adult children. It took place a week later.
More information: Sydney's last affordable beach house
Justin Hemmes plans next big move with $6.8 million purchase of Woolworths
