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Apartment
SOLD on Oct 2023
$363,000
602/59-61 Kembla Street, Wollongong, NSW, 2500, Australia
1
1
1
Nearest stations
Coniston
1.4KM (18 mins)
Wollongong
1.7KM (21 mins)
About this Property
If you're looking for an outstanding investment then look no further than this serviced apartment located in the Quest Apartments centrally positioned in the heart of Wollongong CBD, an easy stroll to restaurants, cafes, cultural attractions, shopping precinct, and Wollongong's harbour and beaches.
This serviced apartment offers one bedroom, combined lounge dining off the kitchen and single car allocation. The lease has been signed until 2025 and options until 2040 making this investment easy for the astute investor and or self-managed super fund.
* Modern kitchen with stainless steel appliances & dishwasher
* Split system air conditioning to living area & ceiling fan to bedroom
* Built in wardrobe to main bedroom & additional storage in bathroom
* Large combined bathroom & laundry with services
* Plenty of natural light & refreshing neutral palette
The current rental return is $2,120.37 per month with guaranteed 4% increase annually. These serviced apartments are purely a set and forget investment but please note that they cannot be occupied by the owner.
Please contact Lindsay Begley to register your interest.
Lease details:
* Rent as of July 2023: $2,120.37 per month = $25,444.44 per annum
* Current Return: 6.90% Gross = 6% Net
* Next Market Review = June 2025
Lease terms, rent reviews and increases:
* Lease to 15th of June 2025 with 3 x 5 year options
* 4% yearly increase with market rent reviews every 5 years (next due June 2025)
Rates & Outgoings:
* Council: $335.95pq | Water: $173.29pq
* Strata Administration Fee: Paid by Tenant (Quest)
* Capital Works Fund: $338.00pq
Please Note: Net returns do not include future capital works or additional government taxes associated with property ownership.
Disclaimer: All prospective purchasers are encouraged to get their own independent financial and legal advice.
This serviced apartment offers one bedroom, combined lounge dining off the kitchen and single car allocation. The lease has been signed until 2025 and options until 2040 making this investment easy for the astute investor and or self-managed super fund.
* Modern kitchen with stainless steel appliances & dishwasher
* Split system air conditioning to living area & ceiling fan to bedroom
* Built in wardrobe to main bedroom & additional storage in bathroom
* Large combined bathroom & laundry with services
* Plenty of natural light & refreshing neutral palette
The current rental return is $2,120.37 per month with guaranteed 4% increase annually. These serviced apartments are purely a set and forget investment but please note that they cannot be occupied by the owner.
Please contact Lindsay Begley to register your interest.
Lease details:
* Rent as of July 2023: $2,120.37 per month = $25,444.44 per annum
* Current Return: 6.90% Gross = 6% Net
* Next Market Review = June 2025
Lease terms, rent reviews and increases:
* Lease to 15th of June 2025 with 3 x 5 year options
* 4% yearly increase with market rent reviews every 5 years (next due June 2025)
Rates & Outgoings:
* Council: $335.95pq | Water: $173.29pq
* Strata Administration Fee: Paid by Tenant (Quest)
* Capital Works Fund: $338.00pq
Please Note: Net returns do not include future capital works or additional government taxes associated with property ownership.
Disclaimer: All prospective purchasers are encouraged to get their own independent financial and legal advice.
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Lindsay Begley
Ray White Figtree
+ 61 0412661512
Slavisa Djukic
Ray White Figtree
+ 61 0499901313
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More Details on 602/59-61 Kembla Street, Wollongong NSW
How many bedrooms and bathrooms does 602/59-61 Kembla Street, Wollongong have?
602/59-61 Kembla Street, Wollongong is a 1 bedroom, 1 bathroom apartment.
Who is the agency that listed 602/59-61 Kembla Street, Wollongong?
The agency who listed 602/59-61 Kembla Street, Wollongong is Ray White Figtree - you can contact the agents here.
How many car spots does 602/59-61 Kembla Street, Wollongong have?
602/59-61 Kembla Street, Wollongong is a 1 car spot home.
How much is 602/59-61 Kembla Street, Wollongong?
The price of 602/59-61 Kembla Street, Wollongong is $350K - contact the agents to find out more.