Sydney buyers flock to $574,000 derelict unit

This unit in Potts Point has a A$550,000 guide. Photo / Supplied

Even its agent says the condition of this Potts Point apartment in Sydney with a A$550,000 ($574,370) price guide is "absolutely shocking" and the floor is so unstable it's like "walking on egg shells".

But the derelict 50 sqm space at 9/5 Wylde St does have some redeeming features.

"You can touch the Harbour Bridge," says Ray White's Joshua Orly, who shares the listing with his colleague Shaun Stoker, jokingly.

"When you walk in you're graced by that view of the Harbour Bridge and the city skyline and it's quite spectacular."

There's certainly plenty of people having a look — it was the most viewed property in the eastern suburbs on realestate.com.au in the past week.

You can touch the Harbour Bridge, claims the agent. Photo / Supplied

"Inquiries have been going through the roof," Orly said, but those taking the property seriously ahead of the April 10 auction have been "people within the industry — builders, interiors designers and architects".

They can do all the work themselves and unlike many inner city one-bedders it's a decent size at 50 sqm.

He said the price guide has tempted a few first home buyers, but they soon change their mind when they see it.

"It does need a lot of work," Orly admits.

"It's being sold by the NSW Trustee and Guardian so we don't know how it came to be in it's current state — all I know is that it's definitely going to be sold by auction.

"And it truly is a unique property and I haven't seen anything like it for a very long time."

A completely renovated one-bedder next door that also has harbour views is for sale with BresicWhitney with a A$700,000 price guide.