Transformed Paddington garage - now with residence atop

Changing the use of any property can lead to riches.

A former Paddington garage that has been transformed into a two bedroom terrace with parking will possibly prove the adage at its upcoming 18 October Position Realty auction.

"Having experienced a truly remarkable makeover, The Garage has been transformed into a unique three-storey freestanding architectural masterpiece of contemporary design," listing agent Deborah Terley said.

With custom finishes and interiors throughout, the sleek residence comes with Centrepoint Tower views.

The single storey lock-up garage sold at $822,500 in July last year.

Positioned between adjoining terraces, the then lock up garage occupied its 76 square metre block with a width of 4.6 metres.

It now has 93 square metres of living space plus  23 square metres of courtyard.

It sold through Position Realty agent Deborah Terley with development approval last July.

Previously Laing Real Estate sold it with the property behind for $1.35 million in 2006. The then garage had a de-serviced petrol pit.

More than $1.2 million is now being tipped.