406/59-61 Kembla Street, Wollongong, NSW, 2500 - Apartment Sold on 17 10 2025

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Wollongong

SoldOct 17, 2025

406/59-61 Kembla Street, Wollongong, NSW, 2500

$482,112

878 m²

Apartment

•

22 days on the market

Sold: Oct 17, 2025

What's around 406/59-61 Kembla Street

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.