58/575 Hunter Street Newcastle West, 2302 NSW
Solid Investment with 6% Return - Potential Rent Guarantee
Larger than your average one bedroom apartment this property is located in The Quest Apartments, Newcastle West. The Quest is iconic to Newcastle and is one of the most popular hubs for business executives visiting the city.
This particular property offers an attractive return of $23,400 pa, or $450 per week (Approx.). The property is boosted by the fact that you as the owner only pay a portion of the outgoings. You are responsible for the capital works fees and half of the council rates. The tenant (The Quest) pays for the admin fees, water rates and half the council rates. This gives you a potential yield of just over 6%. It is about to enter another 5 year lease term with The Quest guaranteeing your income throughout that period and also providing a 4% annual increase on that rent return.
The property itself is quite spacious and located on the 7th floor, it has a central lounge room with split system air conditioning and large windows looking towards No.1 Sports Ground and Marketown Shopping Centre.
Sold $380,000
Inspect
Inspection of this property is available strictly by arrangement only.
Contact
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Casey Healey
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Casey Healey