205/59-61 Kembla Street, Wollongong NSW 2500

$548,900

2 beds

2 baths

High return & annual rent 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 $2,666.67 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: $369.23pq | Water: $204.13pq
Strata Administration Fee: Paid by Tenant (Quest)
Capital Works Fund: $562.50pq

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.

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Property Details

• Type: Apartment
• Bedrooms: 2
• Bathrooms: 2
• Toilets: 2
• Building Area: 80 m² (approx)