A studio apartment in West Wollongong, described as a "most affordable, entry-level property" is for sale.
The one-bedroom listing is located at 6/1-5 Mount Keira Road, West Wollongong.
"This neat and tidy studio apartment features a combined open bedroom, living and kitchenette, separate bathroom and one parking space," the marketing states.
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"[It's] a simple investment opportunity to potentially gain a strong rental yield. Currently leased at $280 per week. Would suit a first home buyer, downsizer, or investor."
According to CoreLogic, the listing last sold in September 2023 for $190,000.
Selling agent, Lou Niceski from Elders Real Estate Wollongong said the apartment was now for sale with a guide of $190,000 to $210,000.
Mr Niceski said the apartment block represented entry-level investing (in this instance with a reported six per cent return) or owner-occupying.
"It's one of the cheapest products you can find in the Illawarra," he said.
"It's the most affordable, entry-level property transaction or acquisition anyone can make in the Illawarra."
Mr Niceski said there had been strong early interest from investors.
He said the apartment was being re-sold after a short period of ownership, as the investor owners wished to move on to other projects.
The complex offers a significantly cheaper price-point than other apartments in the area.
According to CoreLogic, the median unit value in West Wollongong is $647,970, and $755,707 in Wollongong.
Mr Niceski said there was often a high degree of turnover within the complex.
The most recent sale there was 1/1-5 Mount Keira Road for $180,000 in December 2024.
Also, 7/1-5 Mount Keira Road sold for $175,000 in August 2024.
Last year, an out-of-area investor snapped up another of the studio apartments for less than $150,000.
The one-bedroom apartment, located at 36/1-5 Mount Keira Road sold for $149,000.
