Handley and Andrew Stanley are best known for their collaboration with producer DCUP (Duncan MacLennan) on We No Speak Americano.

The two-bedroom flat with parking at 6/34A Fletcher Street will be auctioned on 19 October through Ray White Double Bay's Warren Ginsberg, with a guide price of more than $1.3 million.

Located between iconic Bondi Beach and Tamarama, it's popular with young couples who want to be within walking distance of the beach, Ginsberg said.

Handley bought the place for $730,000 a decade ago, and it's been an investment for him. He collects $800 a week in rent.

Handley and his partner Johanna Moonan, who runs OpenClosit, a fashion clothing shop, now work in Los Angeles.

The name Yolanda Be Cool comes from a scene in the film Pulp Fiction where Jules (played by Samuel L. Jackson) tells armed robber Yolanda (played by Amanda Plummer), "Be cool!"

The Bundy flat is on the top floor, with a living room and dining room in one. One of the bedrooms overlooks the ocean.

The condo is also popular with investors, Ginsberg said.

In addition to the two beaches, it's close to Marx Park and restaurants.