East Gosford granny flat: Central Coast style living by Acrow Investments
Here’s the project overview.
Project description: A corner-block investment granny flat in East Gosford, Central Coast, NSW.
Result: A spacious granny flat that brooks no compromises on size or quality. Combined with a moderate interior renovation of the main house, the project has doubled the opportunities for potential returns.
Project cost: $135,000, including CDC approval and construction fees.
Build duration: 12 weeks.
Return on investment: The granny flat is generating a rental return of $350 per week while the main house is renting for $475 per week. Combined: $825 per week.
Founded way back in 1842, East Gosford on the Central Coast is a well-established area with a lot going for it. Known for its neighbourly spirit, it’s home to a number of schools, parks, recreational facilities and cafes.
All this makes for a safe, comfortable area – a particular hit with retirees and young families.
Just 75km from Sydney, the suburb is centrally positioned adjacent to the CBD of the City of Central Coast LGA. The regional population is now over 333,000 and growing strongly. This makes East Gosford a particularly lucrative investment area, earning it a coveted “high demand market” label from real estate experts.
Investing in a granny flat in the area just made so much sense for our happy clients.
It’s a common misconception that corner blocks don’t make for good granny flat potential. This project defies that thinking.
Sporting its own driveway access and separate, private garden area, this spacious 2-bedroom granny flat has almost doubled the earning potential of the original dwelling.
Combine the modern fixtures with a bright spacious interior and it means the finished project surpassed all client expectations.
As a bonus, the owners also completed a interior “renovation and refresh” of the main house. Interior paint, a new kitchen and freshly sanded floors all boost the earning potential of the main house … as well as the overall property.
The granny flat construction combined with the quick refurb of the main house rounded out to a $135,000 investment.
Combined, the property now returns $825.00 per week in rent. With numbers like that, our clients expect a swift payback period for their investment outlay.
Choose Acrow Investments
Our expertise is focused on the surging Central Coast, Newcastle and Hunter markets.
So, if you’re looking to partner with the best for your next residential project, get in contact today for site-specific advice and a free quote.
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