One-bedroom unit in beachside suburb on sale for an eyebrow-raising sum
A small one-bedroom unit in Bondi is going to auction with a hefty $2.5 million price tag.
It might have only one bedroom, one bathroom and be worth $40,000 per square metre, but that hasn't stopped the tiny apartment at 7/2-4 Notts Avenue, Bondi, from being listed for a seven-figure sum.
Selling agent Ron Bauer of Ray White Unlimited told News Corp the rare view and a secure parking space pushed the property into the multi-millions.
Mr Bauer said he’s sold in the same building, The Terraces, which was constructed in 1983, “over the years” and the view made it “the ultimate postcard”.
“I sold a one-bedroom with no view in a 10-year-old building for $1.4 million towards the end of last year,” he said.
“It was in a beachfront block, but facing away from the beach. This is a whole other world compared with that.
“It’s as waterfront as you can get at Bondi.”
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He predicts in 10 years the one-bedder could be worth more than $5m.
Its previous estimate value, according to Property Insights, was between $690,000- $869,999 when it went up for sale at the start of 2015.
It’s previously been on the rental market for $800 a week in 2015, according to RealEstate.com.au.
The apartment is scheduled for auction on February 21.
