2 Mokoan Close, CAROLINE SPRINGS VIC 3023
Development Feasibility Analysis in Caroline Springs, VIC
GRZ1 zoning in Caroline Springs supports apartment development, but the sale prices do not justify the cost. A 6-apartment project on 751 sqm produces revenue of only $2,565,000 against costs of $4,001,779, a loss of $1,436,779 at -35.9%. At $427,500 per apartment, Caroline Springs unit values are too low for this project type to be viable.
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Frequently Asked Questions
Why is the apartment project at 2 Mokoan Close so deeply unprofitable?
Sale price per apartment is $427,500. Six apartments generate only $2,565,000, while total costs are $4,001,779, a shortfall of $1,436,779.
What zone applies to this site?
GRZ1 (General Residential Zone 1), which permits apartment development but does not change the underlying sale value problem in this suburb.
What is the land price at this address?
$678,000. Even accounting for land at cost, the 6-apartment format cannot generate sufficient revenue at Caroline Springs price levels.
Would a different project type work in Caroline Springs?
Townhouses and house-and-land formats face similar challenges as shown in other Caroline Springs entries in this dataset. The low unit sale price of $427,500 is the core constraint.
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DISCLAIMER: This analysis is generated by automated algorithms for informational purposes only. It does not constitute financial, investment, or legal advice. Actual development costs, revenues, and returns may vary significantly from these estimates. Users should consult qualified professionals including a registered quantity surveyor, accredited town planner, and solicitor before making any investment decisions. DA Leads Australia Pty Ltd holds no Australian Financial Services Licence (AFSL) and is not authorised to provide financial product advice under the Corporations Act 2001 (Cth).