Chasing Sydney property for less than $200,000 usually means picking from student rooms or car spaces, until this one popped up.

Only this time, our cheapie was smack-bang in inner-city Surry Hills, and sold for $192,000. It was a 1km walk to the CBD, and a 5km bus hop to Bondi. At 12sqm, there wasn’t much there, but it was the cheapest Sydney apartment advertised at the time.

It saw some private inspections before we published a story about its uniqueness. Then with 26 groups attending within 24 hours, 2 contracts exceeded the asking price.

The Strata home was on the edge of Taylor Square, amid the buzzing heartland of small bars and restaurant strips, and in the iconic birthplace of Sydney Mardi Gras.

It suited a weekday/weekend space, or someone savvy enough with refurbishments to do something more.

In the Art Deco building known as ‘Belgenny’, it had secure entry, period-kept common spaces, shared laundry and lift access.

A NW aspect had two sash windows to a rear lane, with views over surrounding lawns and treetops. Low levies of $533 a quarter added some ongoing affordability.

A rarity in Sydney, will be interesting to see what becomes of these 12sqm. Check it out at bw.com.au/20561.