804/59-61 Kembla Street, Wollongong, NSW 2500

ATTENTION SAVVY INVESTORS ? High Net Return of 6.23% p.a

This is the ideal investment opportunity for astute buyer, providing a guaranteed secure rental return of 6.23% per annum. Located within the QUEST building in Wollongong CBD, one of Australia?s largest serviced apartment operators.

The property is located on the top floor, providing stunning ocean views, featuring two generous sized bedrooms, with mirrored built-in wardrobes and ceiling fans, ensuite to the master, spacious kitchen with electric cooking and dishwasher, open plan living and dining area with air conditioning, main bathroom with combined bath and shower plus internal laundry and one secure basement parking space.

Perfectly positioned in the heart of Wollongong CBD, just moments to restaurants, cafes, bars, shops, public transport, parks, Wollongong Harbour and its finniest beaches, providing the ultimate investment opportunity for the savvy buyer.

Property Details:

- Current NET return of 6.23% per annum: $28,608 per annum or $550.15 per week

- Current GROSS return of 7.21% per annum: $33,108 per annum or $636.70 per week

- Leased till 14th June 2025 with a 3x 5-year option taking it to 2040

- Scheduled rent increases of 4% per annum and a 5 yearly market rent review

- Secure income stream with rental paid regardless of the occupancy of the apartment

- Fully furnished serviced apartment operated by Quest Wollongong

- Internal floor space of approx. 81m2 plus parking space

Outgoings:

Council Rates: $1386 per annum

Water Rates: $689 per annum

Strata fees: $2424 per annum

VIEW BY APPOINTMENT ONLY.

*** Sold by Anthony Sorace - 0413 690 459 - A-List Property Group***

Disclaimer:

Whilst A-List Property Group has made every effort to ensure the information supplied to you in our marketing material is correct, we cannot guarantee the accuracy of the information provided by our Vendors, and as such, A-List Property Group makes no statement, representation, or warranty, and assumes no legal liability in relation to the accuracy of the information provided. Interested parties should conduct their own due diligence in relation to each property they are considering purchasing. All photographs, maps and images are representative only, for marketing purposes.