A micro one-bedroom unit in Brisbane has hit the property market and could be the ideal purchase for first-time investors.
Bettina Maniatis, 32, is selling her pint-sized Bardon gem after she purchased it back in 2004 for just $130,000.
Mrs Maniatis, of Chapel Hill, has bought elsewhere and said the 28sq m property at 2/47 Harwood St was the perfect place when she moved out of home.
Using the First Homeowner’s Grant, Mrs Maniatis lived in the unit for seven years, and said repayments were less than renting at the time.
She rented out the property in 2010 and is now looking to build her property profile.
The mother-of-two said the unit would suit someone starting their career or studying.
Ray White New Farm selling agent Hamish Bowman said it was impossible to find a cheaper apartment less than 10km from the city for $239,000.
“It’s the cheapest apartment in the suburbs, and in a great location” he said.
The view from inside the Bardon unit.
Mr Bowman has already received interest in the property, with one of the offers from the parents of a 16-year-old girl.
“The parents are helping her out when she’s out of school,” he said.
“This kind of property is very rare to the market.
“It’s the perfect superannuation investment.”
Place Advisory director Lachlan Walker said the property was “pretty unusual” and the cheapest on the market.
“Most apartments wouldn’t be anything less than 50sq m,” Mr Walker said.
“It’s the size of a hotel room, you might find someone has $200,000 cash to spend, a corporate buyer or a fly-in-fly-out worker.”
With six units in the complex, the property features an open-plan living room which ties the kitchen and bedroom together, timber floors and reverse-cycle airconditioning.
Original article published at www.dailytelegraph.com.au by Reshni Ratnam 28/7/16