A tiny two-bedroom house is expected to sell for over $8 million after being owned by the same family for 53 years.
The 850sqm of land and the small house on it in Cabarita, Sydney, is expected to fetch over $8 million when it goes to auction on May 20.
The home at 9 Collingwood Avenue was last bought by the Waller Family in 1969 for $17,000.
READ MORE: Global weight loss company Jenny Craig 'on brink of closure' in the US
Now the property's value has skyrocketed, thanks largely to its location in one of Sydney's most sought-after suburbs right on France Bay.
"Located in one of Cabarita's most prestigious neighbourhoods with elite private schools, cafes, restaurants and direct transport to the CBD at your doorstep, this property promises the ultimate Inner West lifestyle," the listing states.
The home is listed with real estate company Horwood Nolan.
READ MORE: Andrews doubles down on criticism of interest rate hikes 'smashing families'
The company's founder and managing director Ben Horwood said waterfront properties like it are very rare to find in today's market.
"It's a rare opportunity, inner-west waterfronts are typically built up with waterfront apartments, there are very few standalones in the inner west," he told 9News.com.au.
"It's got good proximity to private schools, the rest of the inner west and Sydney, it makes this place an exceedingly convenient place to live for families."
Horwood also said interest in the property has been good, with most families looking to knock it down and "build their dream waterfront home."
A property of similar size two doors down from 9 Collingwood Avenue sold for $8.2 million in July 2022.
The family who has owned the home for the last 50 years are selling as they decided it was time to move on, according to Horwood.
Sign up here to receive our daily newsletters and breaking news alerts, sent straight to your inbox.