Want to know how you can turn your property into a profit?

Summit Granny Flats turned the backyard of this Waikiki property into a investment strategy that now creates a passive, dual income for the client.

The process began with an expert consultant from Summit Granny Flats viewing this 712m2 property on behalf of the client, to see if it would meet all the requirements for a granny flat to be constructed in the backyard.

The overall objective was to find a property with an existing dwelling which could be rented out, as well as finding a property where a granny flat could be constructed, with the purpose of also renting it out as a long-term rental. Therefore, creating two investments on the one title of land.

This particular property ticked all the boxes due to Summit Granny Flats experienced team of supervisors, contractors and trades, the property was able to be set up similar to a strata development with a separate driveway and fencing – but without the large costs that come with a subdivision.

Speak to one of our consultants to find out how you can apply the same strategy.

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WAIKIKI SUBURB STATISTICS

 Annual Rental Yield     5.6%
 Compound growth rate over the past 12 months      12.3%
 Median house price      $464,000
 Median rental price     $500

Source: Realestate.com.au as of June, 2023

OUTCOME

The main dwelling is currently rented out for $580 per week and the granny flat is rented for $430 per week – bringing in a total income of $1,010 per week.

The granny flat cost the client $220,000 inclusive of site works, driveway and fencing.

RESULTS

The client now enjoys the benefits of:

 ✓  A rental investment, generating a net return of $52,520 a year
✓  A brand new granny flat they can claim tax depreciation deductions on
✓  Expenses including any interest on their loan is now a tax offset
✓  A property that increased in re-sale value due to the granny flat being an additional ancillary

SUMMIT GRANNY FLATS HAS INVESTOR PACKAGES FOR;

2-bedroom, 1-bathroom granny flats turnkey from $190,000
3-bedroom, 2-bathroom granny flats turnkey from $220,000

View Granny Flat designs

 

WANT TO KNOW MORE?

If you would like to maximise the return on your property, get in contact with Summit Granny Flats today. Our team of experienced consultants will show you how to unlock the potential of your backyard.

Make an appointment