Forth Street, North Dunedin, Otago

Located right in the heart of the campus, this flat has always been very popular, receiving plenty of applications from quality tenants every year.

Returning $865 a week for the rest of 2024 and a further $46,665 in gross rental income for 2025. 

The property contains 5 good-sized bedrooms, a semi-open plan kitchen/ living area, 1 bathroom plus a separate toilet.

The 445m2 section allows for up to 10 bedrooms on the site (subject to consent).  One could remodel/ extend and add bedrooms to the existing dwelling or just knock it over and build new. 

Based on quotes and working drawings, our view is that a conversion to an 8-bedroom, 3-bathroom flat is the best use of this site. 

This will cost approximately $250k with rent expected to increase to $1760 per week once complete.

Link to 3D tour below:
https://my.matterport.com/show/?m=teUBRbpCAHk