It has a bed, a microwave and a bathroom.
The mini-apartment, located in a Victorian building in Lower Clapton, east London, is, according to sellers, the smallest ever to appear on the capital’s market. The minimum price set by auctioneers is $68,000, but the final price is expected to be higher, as the property bought for $140,860 in May 2017.
The flat has been recently renovated and has a large window. To maximise space, the bed is positioned above the storage space. The space between the bed and the wall is wide enough to allow you to spread your arms out, there is also a folding table there. The toilet and shower are in a separate room.
The owner has already recouped his investment, receiving a monthly rent of $1,090. The current tenant lives elsewhere most of the time and spends only one or two nights a week in the flat, as it is closer to work.
Incidentally, the narrowest house in London was put up for sale last autumn. There are currently a record number of houses for sale in the UK.
My Auction director Stuart Collar-Brown, who is selling the flat, said he expects the home to be bought by an investor rather than a first-time buyer as banks will not lend against properties under 30sqm. With rental income estimated at about $13,600 a year, investors are likely to be able to recoup the cost within five years, he said.