Contemporary Duplex in Cooranbong, Lake Macquarie
DUPLEX MEANS DOUBLE THE OPPORTUNITY
Our team recently had the privilege of approving and constructing a contemporary duplex investment property in Cooranbong, Lake Macquarie. The property, situated 120km north of Sydney, is ideally located in a town that’s fast becoming a lifestyle suburb of the thriving City of Lake Macquarie urban area.
Project overview was as per the below:
- Project description: Side by side three-bedroom, two-bathroom, double garage duplex
- Result: A 350m2 duplex with the option to live in one/rent out the other, sell one/lease one, or sell both dwellings separate for a great return
- Project cost: $850,000 to $900,000 which includes land and construction costs
- Build duration: 24 to 28 weeks
Gross profit: approval $150,000 to $200,000 based on current market
The property itself is an ideal investment opportunity. Being a side-by-side, three-bedroom, two-bathroom, double-garage duplex, it’s the best of both worlds. How? Because a duplex enables the owners the option to sell both dwellings separately for a profit, sell one and rent out the other or retain both dwellings and rent both out while making the most out of this area’s growth while receiving a great additional income.
THE LOCATION
Cooranbong is renowned for its natural rainforest setting, and this duplex is a stone’s throw from multiple picturesque bush walks to the summits of the Watagan Range – itself a destination worth experiencing for its coastal views alone.
Cooranbong is the perfect way to experience country life in the midst of city-like amenities. Popular with families, professionals and retirees alike, the area is known for its neighbourly spirit and dedication to the environment.
THE PROJECT
At Acrow Investments, we’re particularly proud of the build of this duplex. The interior features modern bathrooms and ensuites, built-in wardrobes and high-gloss polyurethane kitchens. A modern, open-plan approach to the interior makes the most of the 350 square meters allotted to the complex, ensuring all living areas feel spacious and comfortable.
Exterior landscaped gardens, a coloured concrete driveway and the use of Austral bricks make for an exterior that will hold its modern finish for years to come. People know that this is a property worth the investment.
THE NUMBERS
Speaking of investment: the project cost rounded out to just under $900,000. Inclusive of land and construction costs, our client essentially built two homes for the construction cost of one. Combined with a gross profit of $150,000 to $200,000 (based on the current market), the project proved a resounding success.
With this success the client was able to build their lifestyle through investment and is now looking to start their next project in the area.
WHAT THEY’RE SAYING
“I would recommend this company to anyone looking to build an investment or a house to live in for their family. Well done, thanks for giving me a great price and doing a fantastic job on my duplex project.” – A satisfied customer
CHOOSE ACROW INVESTMENTS
Acrow Investments is a family-run, Central Coast based business that specialises in the construction of granny flats, duplexes and dual occupancies in the Central Coast, Newcastle and Hunter regions.
So, if you’re looking to partner with a renowned construction business for your next project, then get in touch today and request for free site specific advice and a free quote.
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What are the council requirements for Duplexes in NSW?
A duplex is essentially two homes built on the same block of land and which share a common central wall, also known as a dual occupancy. These homes can either share one land title and owner, or can be subdivided into separate titles so they can be owned and sold separately.
