Ipswich Property Investment Case Study : Whitehill Rd, Eastern Heights Qld

The Glammy Flat girls strike again – Ipswich Granny Flats – The Granny Flat Experts …

OVERVIEW :

• September 2010 existing post war (1950) purchased for $242,000
• Owner occupied property
• 726m2 block, west facing with slight undulation to road
• Internal renovations commenced prior to residents moving in
• 2011 plans drawn for major extension to the rear of the property
• 2011 Architect includes Granny Flat designs as part of the proposed plans to Ipswich City Council
• 2012 Plans approved and building works commenced
• Now a work in progress, as owner builders.  Watch and follow this space

DETAILS :

This is one of our personal projects.  As owner builders, the original plan was to buy, reno and flip.  Renovation works were to include an ensuite, large floating rear deck, upgrade of existing bathroom and kitchen and some major landscaping work.  It turned out to be nothing like this, instead the renovation itself is turning out to be bigger than Ben Hur!  Not that I’m complaining as I believe we will double our money by the time it’s finished …

Whilst this is still very much a work in progress, our original intensions have changed as time has moved on.  As we are near finishing the Granny Flat project, we have decided to rent it out as a ‘Studio’.  There is a shortage of this smaller quality accommodation here in Ipswich, and our Glammy Flat as we call it would suit either a student at the University here, a nurse or professional that is looking for low/no maintenance, but have all the amenities of a fully furnished rental with above average fitout.

There is side access so as to be able to park a car.

One of the great things about having an architect to do all our work, is the benefit of a site specific design with full passive solar orientation and a high energy efficiency rating – all without having to compromise on quality and price.  And even though this is a small living space relatively speaking, the raked ceilings are 2700 high at the shortest point soaring to 3600m at the highest point.  Once you step inside, it has a feeling of a much larger space due to these ceiling heights.

Did I say the bathroom is to die for ?

TOTAL SPACE :

TOTAL Granny Flat Area : approx. 40m2

EXPECTED RENT RETURN : $195pw

Rent PA         $10,140

=  Gross Yield : 14%

How’s that for a positive cash flow outcome for an investment property ?

SUMMARY :

Another successful Ipswich Granny Flat initiative
Ask us how we can help you achieve
14% rent return on your investment
Phone Sonia on 0403 309 136