Lot 12/59-61 Kembla Street, Wollongong NSW 2500

Outstanding investment | 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 two bedrooms, 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
Recently replaced split system air conditioning to living area & ceiling fans to bedrooms
Built in wardrobe to bedrooms & additional linen storage
Large bathroom & ensuite with additional internal laundry
Plenty of natural light & refreshing neutral palette

The current rental return is $2,325.15 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 on 0412 661 512 to register your interest.

Lease details:
Rent as of July 2024: $2418.15 per month = $29,017.87 per annum
Return: 6.46% Gross = 5.60% 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: $340.45pq | Water: $172.10pq
Strata Administration Fee: Paid by Tenant (Quest)
Capital Works Fund: $450.00pq

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.