OFF MARKET

17/575 Hunter Street
Newcastle West NSW 2302

Bedrooms: 2
Bathrooms: 2
Car spaces: 1
Floor area: 82m2
Land area: 2745m2
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Property Details for 17/575 Hunter St, Newcastle West

17/575 Hunter St, Newcastle West is a 2 bedroom, 2 bathroom Unit with 1 parking spaces and was built in 2000. The property has a land size of 2745m2 and floor size of 82m2. While the property is not currently for sale or for rent, it was last sold in June 2013.

Building Type
Unit
Year Built
2000
Floor Size
82m2
Land Size
2745m2
Local Government
Newcastle
Lot/Plan
17/SP62883

Last Listing description (July 2022)

To access contract and other documents, click here: https://tinyurl.com/57mcsvvk

Located in The Quest Apartments, Newcastle West this two bedroom apartment is the perfect investment property. The Quest is iconic to Newcastle and is one of the most popular hubs for business executives visiting the city.

This particular property offers an attractive return of $27,895 pa (or $2,324.58 per month) The lease agreement is in place with The Quest for the next 5 years with 3 x 5 year options to renew. The rental income has an annual CPI increase of 4% per annum and the property is boosted by the fact that you as the owner only pay a portion of the outgoings. You are only responsible for the capital works portion of the strata fees and half of the council rates. The tenant (The Quest) pays for the admin fees, water rates, electricity, the other half of council rates and gas. This gives you a potential yield of almost 5%.

The property itself is quite spacious and located on the 3rd floor, it has a central lounge room with split system air conditioning and large windows. The building facilities include indoor pool, spa and gym located on the ground floor.

Filled with light throughout, The large bedroom opens out onto its own private balcony with sweeping views of the city skyline. The kitchen is fully equipped with an electric cooktop, electric oven and ample storage throughout. The apartment also has a proper laundry (not a cupboard laundry), which is rare for apartments in today's world.

- Rental income of $27,895 per annum.
- CPI increase on rental income of 4% annually.
- 5 year lease has just commenced.
- 3 x 5 year options available to the tenant.
- Minimal outgoings payable by the owner.
- Consistent rental income.
- Council Rates: Approx. $675.35 p/a.
- Capital Works Fees: Approx. $667.60 p/a.

Disclaimer: Whilst every care is taken in the preparation of the information contained in this marketing, Century 21 Novocastrian will not be held liable for any errors in typing or information. All interested parties should rely upon their own enquiries in order to determine whether or not this information is in fact accurate. Photos have been edited for marketing.

Property History for 17/575 Hunter St, Newcastle West, NSW 2302

A timeline of how this property has performed in the market
Last Sold
$304,000
14 Jun 2013
  • 21 Apr 2021
    Listed for Sale Price Guide $510,000 - $550,000
  • 14 Jun 2013
    Sold for $304,000
  • 15 Feb 2013
    Listed for Sale OFFERS OVER $300,000
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About 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 1,810 properties.

    There are currently 21 properties listed for sale, and 2 properties listed for rent in Newcastle west on OnTheHouse. According to CoreLogic's data, 84 properties were sold in the past 12 months in Newcastle west.

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    Disclaimer
    Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.