Sydney Lane Cove garage listed for $88,000

• Tiny Sydney garage being sold for $88,000
• Agent spruiks it as ‘multifunctional property’  
• He even suggests someone could live in it 

A tiny garage in Sydney has hit the market for $88,000 with an estate agent suggesting prospective owners could live in it – highlighting the dire state of the property market.

The garage, or as the listing calls it: ‘a residential zoned multifunctional property’, sits underneath apartments in Lane Cove, on Sydney’s affluent North Shore.

At just 17 square metres the brick-walled ‘property’ will be a snug fit for any larger vehicle and could not reportedly accommodate its owner’s work van.

However real estate agent Alex Haddard, of Property Services Agency/EXP Australia, is thinking way outside the fairly modest box.

‘Is it a car space? Is it a storage space? An office? A day resting area?’ the listing asks.

‘It’s a lock-up garage with a window for natural lighting. The rest is up to your imagination, subject to approvals required, of course.

The ad boasts that the garage has a power socket, that needs to connected to the grid, and comes with a communal swimming pool the new owner can enjoy,

‘This property is conveniently located with common toilets five metres just around the corner,’ the listing states.

‘This is by far the Lowest Priced Property on the North Shore that I have seen in 30 years! Be quick! It’s a steal!’ 

Mr Haddard believes the garage, which he called ‘the most unique thing I’ve seen on the North Shore’, could be used as storage for a boat, a secluded man cave or as a place to live.

‘Realistically it’s not intended to be lived in but because it’s zoned residential and has natural lighting there’s a loophole in the system that would allow it,’ Mr Haddard told the Daily Telegraph.

‘It doesn’t have amenities but the building does have common toilets and one of the best things about the property is that it has a swimming pool as well.

‘There’s no shared showers but with 24/7 gyms nearby that could be an option. Any buyer would have to do their due diligence.’

If bought as an investment, the bare brick-lined garage could be rented out for about $60 to $80 a week. 

The garage is reportedly being sold by an electrician who recently purchased it along with the corresponding unit in the strata building.

He intended to park his electrician’s van in the garage but found it wasn’t big enough.

It’s not the only expensive Sydney parking space up for grabs.

A space in the inner city suburb of Chippendale is being advertised for $85,000.

Median property prices in Lane Cove over the last year ranged from $2,947,500 for houses to $900,000 for units.