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Call it the garage sale of a century.

Sydney-siders Odette Maddern and partner Jason Ingleburn must have been mad when they paid a record price of $822,500 last July for this once rusty roller door in Sydney’s east.

But now the Paddington pad, which 12 months ago was just a lock-up garage sporting a painted ‘no parking’ sign, is now worth $1.2 million.

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The stunning house as it looks after a couple renovated it in just a year from the garage it looked like, below

What a difference a year makes: The Paddington pad is now worth $1.2 million after it was bought for $822,500 last year

Perfectly situated in one of Sydney’s most expensive suburbs the garage-turned two-bedroom home is now perfectly placed among equally impressive homes in Paddington.

Featuring an oversized master bedroom, copious amounts of storage space and a sunny courtyard with water feature, it has taken Mr Ingleburn – a builder – just one year to transform it into a million dollar property.

There are two spacious bedrooms, one state of the art bathroom and of course, your very own garaged parking.

Despite it being the best investment the couple have ever made, Mr Ingleburn said he originally ‘laughed’ off his wife’s suggestion that they buy the garage as part of a plan to renovate it into a home. 

The couple were looking to invest in a place that they could refurbish and sell for a tidy profit

Quality floorboards are part of the home’s major selling point

A sun-drenched courtyard was one of the biggest incentives for Mr Ingleburn in acquiring the property

He said after trawling through a list of potential places to by his wife stumbled across the derelict garage at 19 Hopewell Street, Paddington, and insisted they inspect it. 

‘We pulled up out the front and I told my wife you’re joking,’ he said. ‘I told her to keep driving.’  

‘It was only after I took a look around and saw the courtyard and that it had real potential that I was interested.’

Three days later the couple bought it.

‘We looked at it on the Friday and by the Monday we had signed on the dotted line.’

In 2009 the garage received approval for a separate development application sold independent of its neighbouring three-bedroom terrace.

Thirty years ago both the home and the garage sold for a combined price of $50,000 – but now the converted garage alone is worth 20 times that amount. 

Property agent Deborah Terley said the free-standing contemporary home, once a mechanics workshop, is now a ‘truly remarkable makeover.’ 

An oversized master bedroom includes copious amounts of storage space and there is a sunny courtyard with water feature.

Mr Ingleburn originally told his wife ‘you must be joking’ when they came across the garage last year but after looking inside he was hooked

While Mr Ingleburn, a builder, didn’t disclose the price he said it was certainly worth his while investing in it

Additional features include Video Intercom System, open plan living allowing natural light throughout, state of the art finishes, including custom-made floating stairs, cabinetry and high quality floorboards.

The auction is one of a number of record homes listed for the Spring period.

Today alone in Melbourne and Sydney there is 1700 places being put under the hammer – a record first ‘super Saturday’ in the popular auction period. 

In Paddington, house prices have increased 10.5 per cent over the last 10 years with the average home now worth about $1.5 million. 

This property sold in 2006 for $1.3 million in combination with its adjoining three-bedroom Terrace. 

While Mr Ingleburn didn’t disclose to Daily Mail Australia how much he spent on the renovation he said he was getting a very good return.

‘It was certainly worth my while,’ he said.

The first of four open houses is today, before the house goes to Auction on August 18.