Looking for a new investment? Why not check out some of our latest listings that our Property Management team feel will make great investments.
2/35-37 Matthews Street, Wollongong
This single level villa is within walking distance to the Wollongong hospital precinct and the free Wollongong shuttle bus service so has the potential to attract a range of tenancies from hospital workers, university students and those looking for something single level.
There are limited 3 bedroom properties available in Wollongong which would again make this an attractive investment as there would be limited vacancy and presents very well with little maintenance or improvements required.
With a rental potential of approximately $480 per week and a gross rental yield of approximately 3.85% this property would be attractive to investors as it ticks all the boxes that renters look for with minimal outgoings including very low strata levies.
15/5-7 Princes Highway, Figtree
This modern 2 bedroom apartment is situated in a popular location being within walking distance to Figtree Grove, a short drive to Wollongong CBD and easily accessible to the M1 freeway.
This complex has always attracted quality tenants due to the inclusions and finishes that tenants look for which therefore leads to minimal vacancies and making it an attractive investment.
There is a current tenancy in place paying $420 per week which we believe to be the current market rent for the property and for such a great price you can expect an approximate gross rental yield of 4.55%
22 St Johns Avenue, Mangerton
This property is a great opportunity for an investor to secure two properties already under management by MMJ Wollongong.
Consisting of a 1 x 2 bedroom and 1 x 1 bedroom unit, both units are currently tenanted with one being in residence for over 17 years.
You can enjoy an immediate return on the property but there is also potential to increase this current return with renovations.
Current total return is $430 per week which is below market rate so potential to increase immediately. Based on current returns you can expect an approximate gross rental yield of 3.11%
What is rental yield?
Rental yield is essentially the amount of money you make on your investment property. The above estimates are a “gross” value therefore are calculated without taking any property expenses into account.
Some examples of expenses you may wish to consider would include:
- Repairs & maintenance
- Strata levies, council & water rates
- Property management agency fees
- Insurance
- Depreciation