Offer
82 Crole Dr, Warragul, Victoria, AU
Capital Required
Capital Required
$ 200k
Capital Profit
Capital Profit
$ 20k
ROI
ROI
10% pa
About this opportunity
This is one of two developments we constructed. (See 88 Crole Dr, for the other project)
The concept of a rooming house has been around for over a hundred years and can also be referred to as share housing, room sharing or a boarding house. A Micro-apartment is a type of rooming house that provides
2 x Micro-apartment housing developments, which will be purpose built by our trusted Developer.
We will construct 2 Rooming house buildings with 9 x micro apartments on each site (land of approximately 580m2 per site).
The project was completed by October 2023.
Each building will consist of 1 communal area and 9 Micro-apartments, each containing:
• A built-in Kitchenette
• 1 Bedroom
• 1 Bathroom
• Storage area
• Foyer Entrance
Current Rental is between $275.00 and $285.00 per week per unit.
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Financials
| Land Price | $260,000 |
|---|---|
| Construction Cost | $650,000 |
| Consultants, Council Costs, Sales & Marketing, Interest cost, Holding Cost, Contingency | $72,000 |
| Fair Market End Value | $1,300,000 |
| Rental Income | $115,300 (@90% Occupancy) |
| Running Expenses (Operating, Management Fee, Rates, Utilities, Insurance, Land Tax) | $36,160 |
| Mortgage @7% | $42,500 |
| Estimated ROI | 12% pa |
