Eight granny-flat buying opportunities for property investors across Australia
A granny-flat at the back of a property can be useful for accomodating visiting family and friends, but for the astute investor, it's a useful way to generate extra income through renting it out.
Property Observer has looked around the nation for opportunities in each state.
A four-bedroom home on 13 hectares in Korumburra Victoria features a self-contained granny-flat under a shared roof life.
Located at 750 Korumburra-Warragul Road, the property is listed for $750,000.
Listing agent John O’Connor says the granny-flat could potentially draw in $300 for a Friday and Saturday night stay.
“It’s difficult to fill a granny-flat for seven nights a week.
“You could offer a midweek package, where you could offer the granny-flat for cheaper,” says O’Connor.
The granny-flat is separated by a carport and has its own privacy.
A three-bedroom renovated home at 3 Chaseling Street in Greenacre is on the market for $779,000.
It features a two-bedroom granny-flat with its own parking space and separate access.
It is currently rented for $350 a week, offering a rental yield of 2.34%.
The listing says the main house could be rented out for $550 a week, offering a potential income of $900 a week and a rental yield of 6%.
The property is listed through Sash Fisher of L.H. Brown & Co Belmore.
A three-bedroom home in South Australia is on the market with a one-bedroom granny-flat.
The property at 11 Lynne Street Brahma Lodge is on the market with a price guide of $299,000 to $309,000.
The self-contained one-bedroom granny-flat could be rented out for $150 to $200, reflecting a potential rental yield of 3.48%.
The property is listed with Alan Bickley of Raine and Horne Salisbury.
A three-bedroom home in Tasmania, which is currently rented out for $330 a week, features a one-bedroom granny-flat on the property.
Located at 1 Parklands Parade Newnham, the granny-flat previously returned $130 a week.
The property is listed for $259,000, offering a potential rental yield of 9.24% if both properties were rented out.
Deb Billing of Ray White Launceston has the listing.
A four-bedroom property in Brookfield Queensland features a self-contained granny-flat with its own driveway entry.
The main property features a dressage arena, stables and water tanks and is listed for $1.1 million.
Listing agent Emma-Kate Sanders says the granny-flat could be rented out for $200 a week.
Sanders says Brookfield, located 25 minutes from the Brisbane CBD, has very few rental properties, therefore most properties include a granny-flat.
“They are rarely ever available, therefore generating extra income is great,” says Sanders.
In Western Australia, a two-bedroom home – listed for $290,000 - features a granny-flat at the rear of the 884-square-metre block.
Located at 112 Ulster Road Spencer Park, the two-bedroom granny-flat features its own kitchen, dining and lounge room.
Listing agent Skye Stead of Albany Prestige Realty says the flat received a rental appraisal of $250 a week, a 4.48% rental yield.
A two-bedroom home on Greatorex Road in Alice Springs features a self-contained granny-flat with its own access.
The property is listed for $645,000.
Carolyn Lopes of LJ Hooker says the granny-flat could draw in an extra income of $200 a week.
“It’s a great way to pay off a mortgage,” says Lopes.
A three-bedroom renovated home in Wanniassa ACT is on the market for $550,000 plus.
The property features a renovated self contained granny-flat, which is currently returning $250 a week.
The front house could potentially be rented out for $420 a week, totally a potential rental yield of 6.33% for both properties, or 2.36% for the granny-flat alone.
The property is listed through Peter Campbell-Wood of Ray White Tuggeranong.