'New York loft-style' property hits Sydney market for just $320,000

Sydneysiders will be shocked to know that a 'New York loft-style' house has hit the market for just $320,000, but might not be so shocked when they see the listing.

While it is considerably lower than the city's $1 million average home price, the abandoned substation, has no kitchen, bathroom, power and only two very small windows.

The "very affordable" Granville home is advertised as a "unique modern industrial New York loft style residence", and is on the market for the first time in many years.

There is also a condition by the previous owners, Endeavour Energy, that the massive transformer box parked in the front yard will have to stay.

"This is the true definition of a blank canvas property; the site can be used for storage purposes or be converted into a unique modern industrial New York style residence," LJ Hooker agent David Matkovic told realestate.com.

"We’ve primarily had interest from investors, small business owners and tradespeople. The property is Zoned 2 Low Density Residential, but has never been a residence.

"The property became a surplus to the needs of Endeavour Energy, the pad-mount substation is now registered as an easement and will remain on site."

He also told the publication that those interested could transform the substation into a studio flat, home or garage, subject to council approval.

• Gruesome reason unwitting man got rental property for bargain price

• Queensland’s cheapest ‘resort’ home for sale for just $20,000

• Strangers refuse to leave couple's new $586k home: 'Panicked'

The site is approximately 177 square metres, while the substation is approximately 44 square metres internally.

It has double brick walls, a reinforced concrete floor, and a pitched tile roof.

$20,000 Queensland 'resort' home for sale

Earlier this month, a one-bedroom Queensland home hit the market for an unreal $20K, making it the state's cheapest property on realestate.com at the time.

Just a 20-minute drive from the heart of Townsville sits the Townsville Eco Resort, a residential and tourist caravan park.

"The property consists of a caravan and attached annex both of which are covered by a roof, there's an attached front room and rear awnings that provide extra outdoor living areas," the listing said.

"There's also a self-contained bathroom, laundry and storeroom at the rear, and a single car space to the side."

Do you have a story tip? Email: newsroomau@yahoonews.com.

You can also follow us on Facebook, Instagram, TikTok and Twitter and download the Yahoo News app from the App Store or Google Play.