72 Waratah Drive, Crestmead
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OVERVIEW :
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DETAILS:
These seasoned investors had purchased the property 4 years ago now and were looking for ways to improve the rent return. Even though they bought really well they felt they could achieve more.
They had good tenants in place so it was decided to let it sit as it was. But once the tenants gave notice, the inside was freshened up and the new 1800 dividing fence line was erected so as to separate the existing house from the soon to be constructed granny flat.
It’s normally at this stage that we have professional photos done of the existing house – that way from now on when it needs to be advertised for rent we always have a set of great photos!
A 600m2 block doesn’t give you a lot to play with in terms of building a new granny flat in the backyard so the building itself was just under 70m2.
There were 2 pergola areas and 2 garden sheds in the backyard space. Existing fences were in quite good order so no need for repair/replacement. We demolished one of the carports and garden sheds but were able to keep the others. In fact, we painted the remaining pergola to match the granny flat, lined the pergola wall facing the existing house with leftover Colorbond from the gf roof – it looks a treat!
And the tenants love it ! So now when they come out of the granny flat onto the covered timber deck the walk down 2 steps into the renovated pergola area. They’ve got a new outdoor garden setting to complete the picture…
New tenants are now in place (lovely young couple) for the now completed granny flat and great tenants in the existing house. Great result for the interstate investors, who are now gearing up for a second go…
SUMMARY:
Gorgeous new granny flat complete with landscaping, great tenants both front and back – everyone’s happy!
Near 9% Rent Return – you’d have to be happy with that!
These seasoned investors had purchased the property 4 years ago now and were looking for ways to improve the rent return. Even though they bought really well they felt they could achieve more.
They had good tenants in place so it was decided to let it sit as it was. But once the tenants gave notice, the inside was freshened up and the new 1800 dividing fence line was erected so as to separate the existing house from the soon to be constructed granny flat.
It’s normally at this stage that we have professional photos done of the existing house – that way from now on when it needs to be advertised for rent we always have a set of great photos!
A 600m2 block doesn’t give you a lot to play with in terms of building a new granny flat in the backyard so the building itself was just under 70m2.
There were 2 pergola areas and 2 garden sheds in the backyard space. Existing fences were in quite good order so no need for repair/replacement. We demolished one of the carports and garden sheds but were able to keep the others. In fact, we painted the remaining pergola to match the granny flat, lined the pergola wall facing the existing house with leftover Colorbond from the gf roof – it looks a treat!
And the tenants love it ! So now when they come out of the granny flat onto the covered timber deck the walk down 2 steps into the renovated pergola area. They’ve got a new outdoor garden setting to complete the picture…
New tenants are now in place (lovely young couple) for the now completed granny flat and great tenants in the existing house. Great result for the interstate investors, who are now gearing up for a second go…
SUMMARY:
Gorgeous new granny flat complete with landscaping, great tenants both front and back – everyone’s happy!
Near 9% Rent Return – you’d have to be happy with that!
A Great Success for the Investors
Vision Property Group (Qld) & Logan Granny Flats
The Granny Flat Experts
Vision Property Group (Qld) & Logan Granny Flats
The Granny Flat Experts