59-61 Kembla StreetWollongong NSW 2500
Property Details for 59-61 Kembla St, Wollongong
59-61 Kembla St, Wollongong is a 2 bedroom, 2 bathroom Unit with 1 parking spaces. The property has a land size of 878m2 and floor size of 71m2. While the property is not currently for sale or for rent, it was last sold in June 2024. There are other 2 bedroom Unit sold in Wollongong in the last 12 months.
Last Listing description (July 2024)
Outstanding investment | Look no further than this serviced apartment located in the Quest Apartments centrally positioned in the heart of Wollongong CBD, an easy stroll to restaurants, cafes, cultural attractions, shopping precinct, and Wollongong's harbour and beaches.
This serviced apartment offers two bedrooms, combined lounge dining off the kitchen and single car allocation. The lease has been signed until 2025 and options until 2040 making this investment easy for the astute investor and or self-managed super fund.
Modern kitchen with stainless steel appliances & dishwasher
Built in wardrobe to bedrooms & additional linen storage
Large bathroom & ensuite with additional internal laundry
Plenty of natural light & refreshing neutral palette
The current rental return is $2,325.15 per month with guaranteed 4% increase annually. These serviced apartments are purely a set and forget investment but please note that they cannot be occupied by the owner
Please contact Lindsay Begley on 0412 661 512 to register your interest.
Lease details:
Rent as of July 2024: $2418.15 per month = $29,017.87 per annum
Return: 6.46% Gross = 5.60% Net
Next Market Review = June 2025
Lease terms, rent reviews and increases:
Lease to 15th of June 2025 with 3 x 5 year options
4% yearly increase with market rent reviews every 5 years (next due June 2025)
Rates & Outgoings:
Council: $340.45pq | Water: $172.10pq
Strata Administration Fee: Paid by Tenant (Quest)
Capital Works Fund: $450.00pq
Please Note: Net returns do not include future capital works or additional government taxes associated with property ownership.
Disclaimer: All prospective purchasers are encouraged to get their own independent financial and legal advice.
Property History for 59-61 Kembla St, Wollongong, NSW 2500
- 14 Jun 2024Sold for $449,000
- 16 May 2024Listed for Sale $449,000
- 07 Feb 2019Listed for Sale Not Disclosed
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About Wollongong 2500
The size of Wollongong is approximately 5.9 square kilometres. It has 28 parks covering nearly 23.4% of total area. The population of Wollongong in 2011 was 16,716 people. By 2016 the population was 18,454 showing a population growth of 10.4% in the area during that time. The predominant age group in Wollongong is 20-29 years. Households in Wollongong are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Wollongong work in a professional occupation. In 2011, 39.6% of the homes in Wollongong were owner-occupied compared with 39.6% in 2016.
Wollongong has 15,556 properties. Over the last 5 years, Houses in Wollongong have seen a 55.95% increase in median value, while Units have seen a 34.40% increase. As at 31 October 2024:
- The median value for Houses in Wollongong is $1,156,901 while the median value for Units is $756,585.
- Houses have a median rent of $620 while Units have a median rent of $600.
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