Maroubra One-Bedroom Apartment Sold for $1.2 Million

A one-bedroom apartment in Maroubra has set a new record after it sold for $1.2 million within just 10 days on the market.

The dwelling, located in an Art Deco block on Marina Parade, received a lot of enquiries from professionals looking to move near the beachside with a lot of cafes and shops for their remote work. Buyers were also attracted to the site because it’s in a peaceful location.

According to realestate.com.au, the apartment has a beautiful view opposite Mahon Pool and Lurline Bay. Before the sale, the property was also renovated and updated with contemporary features.

Whilst it is a small apartment, it has a spacious lounge and modern kitchen with a large master bedroom and its own lock-up garage.

It is not known who snatched up the place but First Hand Property’s Mitchell Farah said the new owner paid $1.2 million for the boutique apartment. The sale is another indication of a stronger Sydney property market.

In Maroubra, a two-bedroom house’s average price is $1.7 million whilst a one-bedroom unit will set back investors or occupiers for $644,500, depending on the location. Unit rentals, on the other hand, are between $450 to $750 a week.