OFF MARKET

58/575 Hunter Street
Newcastle West NSW 2302

Bedrooms: 1
Bathrooms: 1
Car spaces: -
Land area: 2745m2
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Last updated 16 Sep 2024
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Property Details for 58/575 Hunter St, Newcastle West

58/575 Hunter St, Newcastle West is a 1 bedroom, 1 bathroom Unit and was built in 2001. The property has a land size of 2745m2. While the property is not currently for sale or for rent, it was last sold in November 2020.

Building Type
Unit
Year Built
2001
Land Size
2745m2
Local Government
Newcastle
Lot/Plan
58/SP62883

Last Listing description (November 2020)

Larger than your average one bedroom apartment this property is located in The Quest Apartments, Newcastle West. 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 $23,400 pa, or $450 per week (Approx.). The property is boosted by the fact that you as the owner only pay a portion of the outgoings. You are responsible for the capital works fees and half of the council rates. The tenant (The Quest) pays for the admin fees, water rates and half the council rates. This gives you a potential yield of just over 6%. It is about to enter another 5 year lease term with The Quest guaranteeing your income throughout that period and also providing a 4% annual increase on that rent return.

The property itself is quite spacious and located on the 7th floor, it has a central lounge room with split system air conditioning and large windows looking towards No.1 Sports Ground and Marketown Shopping Centre.

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.

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Property History for 58/575 Hunter St, Newcastle West, NSW 2302

A timeline of how this property has performed in the market
Last Sold
$380,000
03 Nov 2020
  • 03 Nov 2020
    Sold for $380,000
  • 21 May 2020
    Listed for Sale $399,000
  • 24 Jun 2013
    Sold for $235,000
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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 1,818 properties. Over the last 5 years, Houses in Newcastle West have seen a 68.03% increase in median value, while Units have seen a 43.56% increase. As at 31 August 2024:

  • The median value for Houses in Newcastle West is $1,422,046 while the median value for Units is $797,641.
  • Houses have a median rent of $518 while Units have a median rent of $630.
There are currently 19 properties listed for sale, and 3 properties listed for rent in Newcastle west on OnTheHouse. According to CoreLogic's data, 71 properties were sold in the past 12 months in Newcastle west.

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