The vendor of this 25sqm studio admits it's about the size of "your spare room", yet for the right buyer, this miniscule property could be ideal.
While small can be beautiful, it can also be a turnoff when it comes to property. Hence Mary Vidovic knew that the renovation of her teeny tiny 25sqm apartment for Airbnb had to be spectacular.
"The room is literally the size of a hotel room — though hotel rooms now are actually bigger. I felt that if people are going to stay there, they have to feel this sense of delight."
The renovated studio measures at just 25sqm. Picture: realestate.com.au
Ms Vidovic bought her one-bedroom studio apartment at 33/47 McMillan Crescent in the elite Canberra suburb of Griffith around 20 years ago, within "a rundown 1960s apartment complex". Since then, it's served as a cherished city bolthole for her sons.
Three years ago, she decided it was time to make it shine.
"Modern and new can be drab and dull; there's so much average out there. Lots of the units in the complex have been renovated to Bunnings level … I went a bit overboard but I knew it had to be cute, quirky and fun."
The unit is currently used for short stay accomodation. Picture: realestate.com.au
The cleverly designed studio opens to the kitchen with an integrated dishwasher and fridge, then flows to an open-plan living/dining and sleeping zone. There's a sleek bathroom with a shower and a 9sqm terrace out front, perfect for that morning coffee.
A neat and tidy terrace to enjoy a morning coffee. Picture: realestate.com.au
However, it's the finishing touches that give it sparkle. There's custom cabinetry, new flooring, double glazing and sound insulation throughout, plus an emerald green wardrobe and a stunning, nature-themed mural along one of the walls.
"All the things that huge luxury homes have, you have in a tiny little minuscule property," Ms Vidovic said.
A door from the studio leads to the hallway of a well-maintained and leafy complex that boasts a freshly renovated outdoor pool.
The complex has a freshly renovated outdoor pool. Picture: realestate.com.au
Selling to free up cash for another project, Ms Vidovic acknowledges the property is "most likely" Canberra's smallest property on the market.
"Even other studios are quite generous compared to this. This is literally the size of your spare bedroom. The bathroom is around 4sqm and the kitchen is only 2.5m long."
Custom finishes give a luxe hotel vibe. Picture: realestate.com.au
Agent Josh Bruce at Belle Property Canberra describes the property as "beautifully appointed".
"The vendor has spent some money to make it high-end. It feels like you're staying in one of those five-star art series hotels."
He adds that the studio is "easily" the smallest property he's ever put to market.
"The open homes are a bit tight, that's for sure. I'm standing outside and letting everyone sort of do their thing inside."
It's so small in fact, that some banks won't lend for apartments of this size, meaning buyers may need to fork out in full.
But with an asking price of $343,000 — compared to the ACT's median property value of $835,000 — it's an attractive bargain for the right buyer.
The nature-themed mural disguises the bathroom door. Picture: realestate.com.au
Mr Bruce said the property would make an excellent starter home for a young professional moving out of home, or a strategically located investment for short-term rentals, as Ms Vidovic has done.
"Due to the transient nature of the public service and our universities, there's high-demand for short-term rentals in Canberra," he said.
The complex is located in Canberra's affluent inner south suburbs, about nine minutes from the CBD. It's close to Manuka, Kingston and Barton, where many of the public service buildings are, as well as Lake Burley Griffin and a wide variety of dining options.
Griffith is one of Canberra's most expensive suburbs. Picture: Getty
Ms Vidovic said the property is usually booked year-round, with the winter months tending to be the only ones with gaps. The property has over 100 5-star reviews on Airbnb.
"Lettings are already picking up for summer," she said.
And to make things easier for a new investor wanting to keep the business running, all of the furniture can be included in the sale for an extra $10,000.
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