63/575 Hunter Street Newcastle West, 2302 NSW
Strong Residential Investment with 5% Return
Located in The Quest Apartments, Newcastle West this one bedroom apartment is the perfect investment property. 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 $20,000 pa (or $1,666 per month) The lease agreement is in place with The Quest for the next 5 years with 2 x 5 year options to renew. The rental income has a CPI increase of 3% per annum and 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 council rates. The tenant (The Quest) pays for the admin fees, water rates, electricity and gas. This gives you a potential yield of just over 5%.
The property itself is quite spacious and located on the 8th floor, it has a central lounge room with split system air conditioning and large windows. The building facilities include indoor pool, spa and gym located on the ground floor.
Filled with light throughout, The large bedroom opens out onto its own private balcony with sweeping views of the city skyline.
Sold $392,500
Inspect
Inspection of this property is available strictly by arrangement only.
Contact
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Casey Healey
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Casey Healey