Granny Flats in Perth

[INVSTOR]

I'm actually hoping to get $400 to $450 a week for my 2x2 GFs, and they are on lots which I can't otherwise do anything else with realistically. (Heritage area means I can't demolish the existing properties)

I've done my feasibility based upon a $400/week estimate each, but I think its a little conservative, and I think I can get $450/week fairly easily.

Its a little hard to guesstimate because there aren't really any new 2x2s in the local area to compare to.

Its also a little different to the usual because the GFs are probably the "main" dwelling on their respective lots. The front existing houses are 40sqm one bedroom duplexes (which I currently get $280/week for, market rate probably $300).

So really I've based my estimates on the assumption the GFs are a rear 2x2 villa for all rental intents and purposes. (the "exclusive" property for the GFs are about 55% of the whole lot).

I think I've just been lucky because my duplex pair lot was essentially perfect for this type of GF development - and useless for most other things.

It sounds like you've underestimated rental return although I don't k kw your area well. So the process is just like any other devt? Start with soil test and survey? I'm looking to do a granny flat around Bassendean area. I'm wanting to achieve more of a small house look. $$$$ I've noticed there is NRAS apartments nearby advertised at $370/wk for new 2x1. $350/wk for 1x1.