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602/59-61 Kembla Street,
Wollongong 2500, New South Wales
$363,000
Property details
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Agents
Set & Forget Investment with 4% Annual Increase
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.
Explore the area
School catchments
- Wollongong Public School Primary K-6 Government 0.21km
- St Mary Star of the Sea College Secondary 7-12 Independent 0.41km
- Smiths Hill High School Secondary 7-12 Government 0.65km
- St Brigid's Catholic Primary School Primary K-6 Catholic 1.7km
- Coniston Public School Primary K-6 Government 1.9km
- Gwynneville Public School Primary K-6 Government 1.9km
- Keira High School Secondary 7-12 Government 2.2km
- Wollongong High School of the Performing Arts Secondary 7-12 Government 2.2km
- Wollongong West Public School Primary K-6 Government 2.4km
- St Therese Catholic Primary School Primary K-6 Catholic 2.5km
- Elonera Montessori School Combined K-12 Independent 2.5km
- The Illawarra Grammar School Combined K-12 Independent 2.5km
- Keiraville Public School Primary K-6 Government 2.5km
- Mount St Thomas Public School Primary K-6 Government 2.9km
- Mount Ousley Public School Primary K-6 Government 3.0km
- Good Samaritan Catholic Primary School Primary K-6 Catholic 3.0km
- Edmund Rice College Secondary 7-12 Independent 3.3km
- Lindsay Park Public School Primary K-6 Government 3.5km
- Fairy Meadow Public School Primary P-6 Government 3.8km
- Pleasant Heights Public School Primary K-6 Government 3.9km
- Figtree High School Secondary 7-12 Government 4.2km
- Corrimal High School Secondary 7-12 Government 5.6km
- Warrawong High School Secondary 7-12 Government 6.5km
- Illawarra Christian School Combined K-12 Independent 6.6km
- Holy Spirit College Secondary 7-12 Catholic 6.9km
- Cedars Christian College Combined K-12 Independent 7.2km
- Five Islands Secondary College Secondary 9-12 Government 7.4km
- Illawarra Sports High School Secondary 7-12 Government 7.5km
Nearest schools, measured in a straight line from the property. Provided as a guide only; check catchment and enrolment eligibility with the school. School data © ACARA, licensed under CC BY 4.0.
Find out how much home loan repayments will be
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Loan Market Pty Ltd | Australian Credit Licence 390222. All interest rates stated must include "p.a." and the relevant Comparison Rate in full.
Photos
Floorplan
Contact Lindsay Begley
Contact Lindsay Begley
Lindsay Begley
602/59-61 Kembla Street, Wollongong NSW 2500
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Lindsay Begley
602/59-61 Kembla Street, Wollongong NSW 2500