Property market hack: Quest Wagga Wagga hotel room hits the market with $529,000 price tag

Save $1 million on a typical house and ink a deal for a home sweet … hotel.

A two-bedroom Wagga Wagga hotel room is on the market, with a price guide of $529,000.

$529,000

24/69 Gurwood Street, Wagga Wagga NSW 2650

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The Sydney median house price is $1,691,731, according to the latest Domain House Price Report. And that doesn’t come with a gross annual rental return of more than $40,000 and the furniture included.

The Quest Wagga Wagga hotel suite – on the first floor – has all those attributes, plus a swimming pool and barbecue area.

It is leased until the end of December this year, the listing advises.

Listing agent Ryan Smith from PRDnationwide Wagga Wagga says these suites rarely come onto the market, and it has drawn a mix of local and out-of-town investors.

Smith explains that the property cannot be owner-occupied, and Quest manages the lease.

“It’s a business decision, not just a property purchase,” he says, adding that the local market has been defined by stability and confidence.

Investors who crunch the numbers will find the apartment commands a monthly rental price of $3414.25, rising 3 per cent annually.

The second bedroom is a self-contained studio, with a kitchenette (comprising a sink, bar fridge, microwave and induction cooktop), an en suite bathroom, a seating nook and a wall-mounted television.

The open-plan kitchen, with island bench, lounge and dining area, connects to a 6.7-metre long balcony, shaded by a pergola.

A car space is included in the title.

The kitchens were renovated in 2024, the bathrooms were updated in 2021, and the pad has been newly painted and carpeted.

“It’s had all the big ticket items done,” Smith says.

Smith and colleague Anthony Paul are tasked with the private campaign.

The complex was completed in 2007 and consists of 30 self-contained apartments, all individually owned.

Properties in the complex span compact studios to three-bedroom apartments.

The hotel is a block from the Murrumbidgee River, restaurants and cafes.

Just under three hours west of Canberra, Wagga Wagga attracts visitors for art, culture, nature, wine and produce.

The Botanic Gardens is a significant tourism drawcard, but, unusually for an inland city, it also has a beach – and an excellent one, at that.

The riverside Wagga Beach was voted ninth in Tourism Australia’s 2020 list of Australia’s 20 best beaches.

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