501/653 George Street
Sydney, NSW 2000

This renovated apartment is a high net returning investment located within the Mantra Sydney Central building, managed by the globally recognized Accor group. It presents an excellent opportunity to benefit from substantial net returns through leasing with a specialized short-term leasing agency. The property offers a hassle-free, high-performing income-generating asset situated in the mid-city area, just a 100-meter walk from the Capitol Theatre and within easy reach of the China Town light rail.

Currently leased via a short-term rental agency, the apartment has achieved an annual net return of $40,210.82, equating to a 6.1% net return based on the asking price. There is potential for further improvement given the recent renovations completed on the apartment.

It is important to note that the strata levies have recently increased to $2,960.30 per quarter for a three-year strata loan period, up from the previous $2,077.10. When factoring in these updated levies, the net return adjusts to $36,678.02, or 5.6%. The initial figures were calculated using the original strata levies.

The apartment features recent upgrades including new timber flooring, fresh paint, new kitchen doors, LED lighting, new blinds and curtains, a new sofa bed, and more. It offers the flexibility to use the apartment occasionally while generating income through short-term leasing. The property is fully furnished and can be leased through Mantra or let on a short-term basis.

Interiors are contemporary and well-appointed, boasting two balconies and two bathrooms. The building is centrally located and includes 24-hour concierge services (with Mantra Lease) and an on-site restaurant. The location is highly convenient, just steps from the Capitol Theatre and within easy walking distance to Town Hall Station.

Additional costs include council rates of approximately $242.80 and water rates of about $21.64 per quarter.

For comparison, apartment 701, which shares the same floorplan but is unrenovated, sold for $700,000 in August 2025. This apartment (501) has undergone extensive renovations, enhancing its value.

Please note, this property is for investment purposes only and cannot be occupied as a residence.