55/575 Hunter StreetNewcastle West NSW 2302
Property Details for 55/575 Hunter St, Newcastle West
55/575 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 2739m2 and floor size of 82m2. While the property is not currently for sale or for rent, it was last sold in July 2019.
Last Listing description (July 2019)
Ideally located amongst thriving Newcastle CBD and within close proximity to cosmopolitan Honeysuckle precinct is this fabulous two bedroom unit located on the 7th floor of the Quest Apartments.
Current lease in place to The Quest until September 2021 with an option of 5 years. Current rental income $23,776.80 per year ($457.24 per week/$1981.40 per month)approx. with 4% annual increases.
Upon entry you are greeted with the galley style kitchen that includes dishwasher, flowing onto a spacious open plan dining and living room with extra room for a study nook. The master bedroom features a spacious undercover balcony and en-suite, whilst the main bathroom offers a combined bath/shower and is conveniently located across from the second bedroom which features a built in wardrobe.
Enjoy year round comfort for both heating and cooling with the split system air-conditioning unit and ceiling fans that have been installed. The unit has also been re painted, re carpeted and new light fittings installed. Enjoy all of the benefits of the secure complexes facilities which includes pool, spa and gymnasium. Unit 55 also comes with your own parking space which means off street parking will never be an issue again.
This unit serves the perfect investment opportunity for those seeking to grow their investment portfolio with the following advantages:
Strata Rates $854.20 per quarter (approx.) with the Quest reimbursing the admin fee of $660.55 which means owners are only liable for $193.65 (capital works) approx.
Council Rates are $1,186.69 per annum approx., of which Quest pay 50% or an annual saving of $594.84.
Water rates are $220.05 approx., and usage is paid by The Quest ($88.18) approx.
Don't miss this opportunity to secure this exciting investment opportunity in such a desirable location. Inspection Highly Recommended!
Property History for 55/575 Hunter St, Newcastle West, NSW 2302
- 22 Jul 2019Sold for $470,000
- 09 Nov 2018Listed for Sale $524,950
- 18 Jan 2018Listed for Sale $524,950
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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 1,783 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.
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