Back 406/59-61 Kembla Street
Off Market

406/59-61 Kembla Street

Wollongong NSW 2500

2
2
3
878 m²
Apartment
Last sold for $482,112
Lindsay BegleyLindsay Begley, last sold this property on 16 October 2025 after 21 days on market.

Overview

High return & fixed increases.

If you're looking for an outstanding investment then 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, ensuite, combined lounge dining off the kitchen and single car allocation. The lease has been signed until 2030 and options until 2040 making this investment easy for the astute investor and or self-managed super fund. * Bright kitchen with stainless steel appliances & dishwasher * Split system air conditioning to living area & ceiling fan to bedroom * Built in wardrobe to main bedroom & additional storage in bathroom * Large combined bathroom & european laundry * Plenty of natural light & refreshing neutral palette The current rental return is $2,666.66 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 to register your interest. Lease details: * Rent as of July 2025: $2,666.66 per month = $32,000.00 per annum * Current Return: 6.41% * Next Market Review = June 2030 Lease terms, rent reviews and increases: * Lease to June 2030 with 2 x 5 year options * 4% yearly increase with market rent reviews every 5 years (next due June 2030) Rates & Outgoings: * Council: $364.48pq | Water: $172.83pq * Strata Administration Fee: Paid by Tenant (Quest) * Capital Works Fund: $567.50pq 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.

Features

2 bedrooms
2 bathrooms
3 carspaces
1 carport space
2 garage spaces
878 m² lot size
Apartment

Estimated Value

Based on this property and similar 2 bedroom apartments sold in Wollongong over the last 12 months, the estimated median property value of 406/59-61 Kembla Street is $735k.

Median value
$735k
Estimated value range
$452.5k - $1.35m
Median days on market
36
Estimated value trend
3%
increase over the last 12 months
Average days on market is based on recent, comparable sales in Wollongong. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 406/59-61 Kembla Street

2025
Sold
$482,112
16 Oct 2025 by Lindsay Begley, of Ray White Unanderra
2015
Sold
$380,000
19 Nov 2015

Happy sellers in Wollongong

84%
84% of sellers in Wollongong reported that their sale price either exceeded or met their price expectations.

Wollongong stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 46 reviews in Wollongong over the last 12 months.

Local market activity for 2 bedroom apartments in Wollongong

In the last 12 months, 235 two-bedroom apartments similar to 406/59-61 Kembla Street, have been sold.

This represents a 17% increase in two-bedroom apartments sales when compared to the previous 12 months.

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