Investment Duplex in Wyong, Central Coast
Why not go twice as nice with a duplex in Wyong?
An investment duplex in a thriving area – this is the sort of work we love. We’ve just completed building a modern duplex property in Wyong, 90km north of Sydney and 65km south of Newcastle. It’s a perfect spot: a growth town that has proximity to two big cities and an annual capital growth of around 7 percent. The client is making the most of the large block sizes in the area.
Let’s look closer:
- Project description: Side by side Weathertex duplex – each dwelling has 3 bedrooms, 1 bathroom, 1 ensuite, open plan kitchen-dining-living, garage and an entertaining deck
- Result: A stunning 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: $495,000
- Build duration: 28 weeks
- Projected return: $900 per week, roughly double the area average of $350 – $450
This kind of property makes for an unbeatable real estate investment.
Why? Because it’s essentially two complete homes on one block, giving you more flexibility and more options. If you were the owner you could: rent both dwellings separately for maximum profit, rent both to one large multi-generation family, sell one and rent out the other, or live in one and rent the other. The area is in such demand that these are all good options.
On the Wyong River, the town of Wyong is only 2km to the shores of Tuggerah Lake: a boating and fishing mecca. The open Pacific Ocean and great sandy beaches are just a few km’s farther, directly across the lake. The surrounding landscape is quite green, with lush forest hills immediately westward. Sydney is less than 90 minutes south, and Newcastle is just 60 minutes north.
The town of Wyong itself has a population of around 4,500. Meanwhile, the Wyong LGA has nearly 150,000 residents and borders the similarly sized Lake Macquarie district.
So, while this lakeside town might offer an unhurried pace of life, this doesn’t mean a lack of urban services. In the area, there are two large shopping centres, a popular race course, more than 10 schools, a train station, 2 hospitals and multiple options across the entire range of medical providers. Amazingly, Wyong and surrounding suburbs also boast 5 golf courses!
The Acrow Investments team loves building duplexes. It’s a chance to build two quality homes in one go! This project’s two homes feature premium timber laminate flooring that flows through the open-plan living-dining area. Each kitchen boasts quartz stone benchtops and spacious outdoor decks adjoining. Meanwhile, the kitchens, bathrooms and ensuites feature Harvey Norman bathroom appliances. Each bedroom has a built-in wardrobe.
The build cost for the duplex came to just $495,000 – bang on the area’s median price for a single home. This is incredible value in an area where average annual growth tracks at nearly 7 percent. Further, with a total estimated rental income of up to $900 per week, it doubles the suburb’s average.
What they’re saying
“After deciding to build a duplex on our large block in Wyong, we didn’t know where to start with the council approval and design. A friend recommended Acrow Investments and we got in touch regarding their Investment Property Approval and Constructions Packages.
They met us onsite the next week and we had a design concept and quote for everything provided by the following week.
The whole process was taken care of. This was perfect: we just didn’t have time to organise all the little details on top of running our own business.
Thanks again to the whole team at Acrow Investments! We look forward to working with you again for our next project!” – A very satisfied customer.
Choose Acrow Investments
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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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.