501/653 George Street

On offer is a high net returning, renovated apartment located in the Mantra Sydney Central building, which is 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 Capitol 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 $40,918.18 = 6.2% net return on the asking price, plus there is scope for improvement. Note - the strata levies have changed to $2,960.30 p/q for a 3-year strata loan period (they were previously $2,077.10), factoring these strata levies in, the net return would be $37,385.38 = 5.7%. The above figures have been calculated on the original strata levies. - Renovated with new timber flooring, new paint, new kitchen doors, led lighting, new blinds and curtains, new sofa bed and more - Ability to use the apartment on occasion and short term lease to generate income whilst not using it - Flexibility to short term let or lease through Mantra, fully furnished - Well appointed, contemporary interiors with two balconies and two bathrooms - Centrally located building, 24hr concierge (with Mantra Lease), on-site restaurant - Footsteps to the Capital Theatre, easy walk to Town Hall Station - Council: $242.80, Water: $21.64 p/q approx. Comparable Sale - apartment 701 which is the same floorplan and unrenovated sold for $700k in August 2025. This apartment (501) has had extensive renovations. *For investment only, the apartment cannot be lived in. 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.