The property offers the opportunity to invest in the prime central area of View Street, sitting over the inner city and perfectly located to appeal to older students and young workers in town. It is split into two flats, upper and lower, each with their own private decks, the upper flat soaking in some impressive views across the Dunedin CBD and out to the harbour.
The property received an extension in 2015 to add a new kitchen, living room and bathroom to the lower flat and space exists in the upper flat to add an additional bathroom next to the attic bedrooms (subject to consents) and ultimately improve the flat further.
The rents have been noted as modest at a total of $1,650 per week for 2019 and the potential to add-value and increase returns will be appealing. One flat has been rented with an increase for 2020 already, with the other currently ready for the new owner to set their own rents for next year.
The property also has approximately 6-7 off-street car parks that are all utilised by the tenants for no additional rent.
This is a fantastic proposition to add a foundation property to your investment portfolio.
Please contact us for a further discussion or to arrange a private viewing appointment.
To view a 3D Virtual Tour of the property, click on the “VIEW VIDEO” button above.
A full Colliers Information Memorandum, a further 3D Virtual Tour of the property, and additional property documentation is available to download from our Data Room accessed through the "DATAROOM" button above (on desktop version only, not mobile).
Other investment options at www.colliers.co.nz/student-investment