lot 1 (201)/59 Kembla Street

Wollongong NSW 2500

878 m²

House

Currently for sale - view listing

Overview

Current Return: 6.16% = $468.92 per week

Been hunting for a high returning investment without any hassles look no further than this commercial serviced apartment located in the Quest Apartments centrally positioned in the heart of Wollongong CBD. This serviced apartment offers one generous bedroom, combined lounge dining off the kitchen, large terrace area 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. Recent renovations include: 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 $2,032 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 2026: $2,032 per month = $24,384 per annum * Current Return: 6.16% = $468.92 per week * 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: $381 pq | Water: $217 pq Strata Administration Fee: Paid by Tenant (Quest) Capital Works Fund: $512 pq Disclaimer: All prospective purchasers are encouraged to get their own independent financial and legal advice.