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NSW- Wollongong, Lot 39

NSW- Wollongong, Lot 39

39  1 Bedrooms 1 Bathrooms 1 Garage Year Built: 2005

Lot 39,  59- 61 Kembla Street, Wollongong.  NSW 2500

4% increases until 2025
Quest Wollongong is centrally located in the heart of the CBD, and an easy stroll to restaurants, cafes, cultural attractions, shopping precinct, Wollongong’s harbour and the beach.
With the WIN Sports & Entertainment Complex less than a 1km walk and a thriving business economy this one bedroom apartment with secure basement car park on title will attract investors wanting a blue chip New South Wales location.

Lot Asking Price status Gross Return Net Return Weekly Return Annual Rent Statement of Information
39 $402,790 Avail 6.30% 5.50% $488.00 ($25,376 p/a**

*** As of 15/06/21

Lease Details:

Current Rent: $488 per week -$25,376 pa
Current Return: Return:  6.30 % Gross –  5.50%- Net
June 2022 + 4% =         $26,391 pa –  6.55% gross
June 2023 + 4% =         $27,446 pa-    6.81% gross
June 2024- + 4% =      $28,544 pa-    7.08% gross
June 2025-  Market Review.

***  Please note gross and net yields do not include future upgrade works***

Lease Terms:   Lease to  14/06/ 2025 with 6 x 5 yr options
Rent Reviews and Increases:
Scheduled 4% increases-  with market rent reviews every 5 years (next due June 2025)

Large open plan one bedroom, one bathroom apartment-  total floor area 51m2 internal + carpark on title.
Spacious living area with open dining and lounge, fully equipped kitchen and main bathroom with laundry facilities.
There is a secure basement carpark on title.

*** PLEASE NOTE ****
The property is due for upcoming refurbishments, please see call me to discuss the refurbishments in more detail.

Approximate Owner Outgoings:
Council Rates: $1319 per annum
Water Rates: $580 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $1284 per annum

 

 

 

 

 

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