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Sold: Lot 25, Wollongong, NSW

Sold: Lot 25, Wollongong, NSW

50m2  1 Bedrooms 1 Bathrooms 1 Garage Year Built: 2005

This Wollongong investment property is centrally located in the heart of Wollongong CBD, an easy stroll to restaurants, cafes, cultural attractions, shopping precinct, and Wollongong’s harbour and beaches.
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.
Recently undergone full carpet and paint refurbishment.
4% annual increases to the rent until 2020.

Lot Asking Price Status Gross Return Net Return Weekly Rent Annual Rent
     Lot 25 $355,000  Sold 6.25%** 5.40** $427 $22,203 **

**Rent as of June 2017**

Lease: 1st Term until 14/06/2020 with 4 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2020)
Return: 6.25%

Rent schedule:
June 2018- $444 per week ($23, 091 p/a) – 6.50%
June 2019- $462 per week ($24, 014 p/a) – 6.76%

One bedroom apartment with split system heating/ cooling, fully equipped kitchen including dishwasher, built-in laundry facilities, open plan lounge/ dining room, separate bedroom with BIR’s  and carpark on title.

Approximate Owner Outgoings:
Council Rates: $1224 pa
Water Rates:    $ 672 pa
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund : $1,128 pa
Apartment is approximately 50m2 internally



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