1602/653 George Street

Sydney, NSW 2000, Australia

2 bed 0 bath 0 car

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AI Valuation Estimate

$874,200 – $985,800

Based on recent comparable sales in Sydney

+6.2% suburb growth over 12 months

🏫

8.4/10

Schools

🚇

87/100

Walk Score

📈

+6.2%

Growth

🛡️

9.1/10

Safety

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Schools · zoning · transport · traffic · flood · bushfire · crime · development · heritage

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About this property

On offer is a renovated, fully furnished, north, east & west facing, high floor apartment with far reaching city views. Located in the Mantra Sydney Central building run by the world-renowned Accor group. An amazing opportunity to capitalise on massive net returns by leasing through a specialized short term leasing agency. Enjoy a hassle free, high preforming income generating mid-city asset, conveniently located only 100m walk from the Capital Theatre and footsteps away from the China Town light rail. The apartment is currently leased via a short-term rental agency and has achieved an annual net return of $56,506.37 = 6% net return on the asking price. Plus, there is scope for improvement. Note - the strata levies have changed to $4,212.50 p/q for a 3-year strata loan period (they were previously $2,955.60), factoring these strata levies in, the net return would be $51,478.77 = 5.5%. The above figures have been calculated on the original strata levies. - Renovated with hybrid flooring, kitchen joinery and upgraded appliances such as fridge, cooktop and washer/dryer - Fully furnished with updated furniture such as beds, couches, dining table, chairs, bedside tables and lamps - High up on level 16 in the Mantra Sydney Central building, light-filled interiors - Flexibility to short term lease or lease through Mantra - Option to lease and use the apartment yourself on occasion - Two generous balconies capturing Incredible district views - Security building with onsite restaurant and 24hr reception (with Mantra Lease) *The property can only be used as a serviced apartment as the building is zoned for serviced apartments. The apartment cannot be owner occupied. Call Brenden Taliana on 0402 634 828 or email brenden@sydneycoveproperty.com All information contained herein is gathered from sources we deem to be reliable, however, we cannot guarantee its accuracy and interested persons should rely on their own enquiries.