16/575 Hunter StreetNewcastle West NSW 2302
Property Details for 16/575 Hunter St, Newcastle West
16/575 Hunter St, Newcastle West is a 1 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 2000. The property has a land size of 2739m2. While the property is not currently for sale or for rent, it was last sold in July 2018.
Last Listing description (July 2018)
A unique opportunity to secure a large one bedroom apartment in the heart of Newcastle's CBD.
Within a short walk to the waterfront boardwalk of Honeysuckle and Marketown Shopping Centre, located on the 3rd floor, it boasts a tremendous floor area of 75m2 & Carpark on title.
*** OWNER HAS JUST PAID FOR BATHROOM UPGRADES***
HALF COUNCIL RATES***
A sought after, 'hot spot' for investors, Newcastle is a vibrant and progressive city, surrounded by spectacular beaches and harbours.
With restaurants, bars and outdoor cafes at your doorstep,together with a thriving business economy and strong tourism
market, its one not to be missed.
Lease Details
Current Rent: $396 per week ($20,635 per annum)
Current Return: 6.07% gross- 5.70% NET
Next Rent Increase: June 2019
Increasing as follows:
June 2019 - $412 per week (21,460 per annum) 6.31 gross return
Lease Terms: Lease to 11/06/2020 plus 4 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years
Internal Photos
Spacious 1 bedroom apartment boasting a floor area of 75m2. Entertainers covered balcony area, large kitchen and spacious lounge all with car park on title.
The building features a communal indoor pool & gymnasium.
Recent Apartment upgrades include:
New shower screen and vanity, regrouting & new mirror, new vinyl floor tiles to kitchen, LED light installation & feature wall painting.
Approximate Owner Outgoings:
Council Rates: $550 p/a (1/2 levies are PAID BY QUEST)
Water Rates: PAID BY QUEST
Body Corporate Administration fee: PAID BY QUEST
Body Corporate Sinking fund : $697 p/a
Property History for 16/575 Hunter St, Newcastle West, NSW 2302
- 13 Jul 2018Sold for $350,000
- 26 Jun 2018Listed for Sale Not Disclosed
- 07 Nov 2002Sold for $200,000
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0About Newcastle West 2302
The size of Newcastle West is approximately 0.8 square kilometres. It has 5 parks covering nearly 31.8% of total area. The population of Newcastle West in 2011 was 593 people. By 2016 the population was 619 showing a population growth of 4.4% in the area during that time. The predominant age group in Newcastle West is 20-29 years. Households in Newcastle West are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Newcastle West work in a professional occupation. In 2011, 36% of the homes in Newcastle West were owner-occupied compared with 35.9% in 2016..
Newcastle West has 1,783 properties. Over the last 5 years, Houses in Newcastle West have seen a 48.32% increase in median value, while Units have seen a 28.53% increase. As at 31 October 2024:
- The median value for Houses in Newcastle West is $1,263,434 while the median value for Units is $728,791.
- Houses have a median rent of $578 while Units have a median rent of $650.
Suburb Insights for Newcastle West 2302
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