We report a compact ultrafast solid-state laser source with a pulse repetition rate continuously tunable in the range of 0.56 -1.23 GHz. The optical cavity design allows a user to vary the repetition rate only by moving positions of two optical components inside the resonator, without a need to exchange components or realignment. The Yb:KYW crystal based cavity emits 250 femtosecond pulses at a central wavelength around 1040 nm, with a self-starting SESAM modelocking. In a robust modelocked operation mode, an average power up to 130 mW is achieved using a stabilized single mode pump diode at a wavelength of 981nm, while the laser in continuous wave (CW) mode delivers up to 270 mW. Atmospheric air cooling was sufficient for both CW and modelocked laser operation. Quite low noise performance was observed, with carrier frequency SNR higher than 80 dB, although the measurements were taken with the open breadboard setup.