An instant return on investment with a granny flat in Gorokan

by Acrow InvestmentsSep 29, 2021

Acrow Investments are renowned builders of granny flats all along the Central Coast, NSW. We are located on the Central Coast with years of experience and expertise. We have already built homes for hundreds of happy customers, and we welcome new customers to begin building their dream.

We are delighted with the result of our latest project, to build a granny flat to generate an additional income in Gorokan, NSW.

Project description: Design and build a property to appeal to the local rental market.
Result: A modern granny flat built in keeping with the area and within commuting distance of the major business districts.
Project cost: $133,000.00, including CDC approval and construction fees.
Build duration: 15 weeks.
Return on investment: The average rental return for Gorokan is $360/week.

The location

Straddling lakes Budgewoi and Tuggerah, Gorokan is a paradise for those who love the outdoors.

Popular with retirees and families alike, Gorokan is a safe, friendly suburb with schools, parks, and lakeside walks. With sports facilities and entertainment venues, the area is great for children, too. There is a major shopping area with a variety of food outlets in the adjoining suburb and the beaches of the Pacific Ocean are a few minutes’ drive away.

Being within close distance to the freeway, the suburb is popular for city dwellers visiting the lakes at the weekend and is becoming a magnet for commuters who want a quieter life on the Coast after a busy day in the office.

The project

Gorokan is within close distance to the freeway for commuters who want a quieter life on the Coast. Investment properties in this area have become quite popular to take advantage of this demand, and a granny flat offers the ability to earn two incomes from a single property. The clients of this project came to us wanting a granny flat that was within keeping with the area and to appeal to this rental market.

The result is a modern and comfortable granny flat that enhances the property. With premium timber laminate flooring throughout, open plan living, and high-quality appliances, the home encapsulates style.

The monochromatic kitchen features stone benchtops, while the living area has a reverse cycle split system air conditioner.

This area averages $360/week in rent, so this granny flat will quickly offset any mortgage repayments and provide a great additional income stream for our very happy clients!

The numbers

This project’s costs came to $133,000.00, including CDC approval and construction fees. The client wanted to keep the family home while benefiting from an additional rental income. They will quickly achieve this, with the local average rental being $360/week.