Sold: Lot 25, Wollongong, NSW
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)
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