82 Crole Dr, Warragul, Victoria, AU

Capital Required

Capital Required

$ 200k

Capital Profit

Capital Profit

$ 20k



10% pa

About this opportunity

This is one of two developments we concurrently constructing. (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). Building consent for both properties has been approved ,and the project are 90% and 70% complete, respectively.

The project timeline anticipates both of the buildings being fully tenanted 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

Validated rental appraisal is $250-00 per week per unit. This will return a gross of $117,000 per annum.

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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 $105,300 (@90% Occupancy)
Running Expenses (Operating, Management Fee, Rates, Utilities, Insurance, Land Tax) $36,160
Mortgage @7% $37,800
Estimated ROI 12% pa

Charl van Wyk

Substantial personal portfolio with over 18 success projects delivered across the last 5 years. High focus on specialist education

Contact Us

With the property already secured this project has significant momentum and we aim to commence renovation and improvements imminently. For more information on this, please reach out to us.