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Wollongong NSW

Wollongong NSW

51  1 Bedrooms 1 Bathrooms Year Built: 2005

This Spacious 1 bedroom apartment (51 m2 internal), is located on level 6.
Centrally located in the heart of Wollongong CBD, an easy stroll to restaurants, cafes, cultural attractions, shopping precinct, and Wollongong’s harbour and beaches.

Complete with living and dining are, full kitchen with dishwasher, wall oven and hot plates, split system heating and cooling, south / west aspects and outlooks.

With a thriving economy this one bedroom apartment with car park on title will attract investors wanting to secure a solid New South Wales investment.
4% increases to the rent until 2020.

Lot Asking Price status Gross Return Net Return Weekly Return Annual Rent Contract and Lease
20 $328,000 Avail 6.52% 5.58% $411.00 $21,407  https://www.questproperties.com.au/wp-content/uploads/2019/02/COS-LOT-20-..pdf

 

Lease details:
Current Rent: $411 per week ($21,407 per annum)
Increasing June19 to: $428 per week ( $22,263 per annum)

Current Return: 6.52% Gross / Net 5.58% **
As of June 2019:: 6.78% GROSS / Net 5.84% **
Lease Terms: Lease to 14/06/2020 plus 4 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2020)

 

Approximate Owner Outgoings:
Council Rates: $1260 pa
Water Rates: $ 680 pa
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund : $1150 p/a
Apartment is approximately 51m2 internal plus car park.

 

**PLEASE NOTE** This property will be due for bathroom and kitchen upgrades at the end of the term. For more information on approx costs, scope of works & initial quotations please contact me.

 

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