Queen Street, North Dunedin, Otago

Discover a student investment opportunity overlooking the heart of North Dunedin, a stone's throw from the bustling central campus. This substantial five-bedroom residence offers an ideal arrangement for discerning residential investors or parents considering a strategic purchase for their university-bound offspring.

Each bedroom is generously proportioned, providing ample personal space for older students to study and relax. One of the two bathrooms is an ensuite to a bedroom, offering the lucky occupant their own private facilities. The other four share a large modern bathroom with integrated laundry. The property itself has been attentively maintained, including a replaced roof, ensuring peace of mind for the new owner. 

Currently, the house is on a fixed rental agreement at an attractive rate of $900 per week, secure until the end of December 2024. This presents a ready-made income stream, with a tenant base that's perennially in demand due to the property's proximity to educational establishments. 

The 675 sqm of land allows for up to 15 bedrooms on the property under the zoning rules. A Land Use Consent has already granted an alteration of the existing building to 8 bedrooms. Increasing the rooms, and therefore rental income, is a real add-value proposition. 

Investors will appreciate the blend of steady rental yield and potential for long-term capital growth in this vibrant area. For parents, this is a chance to provide their children with a prime living space during their university years, and a savvy investment for the future. Don't miss out on this solid offering in a sought-after location.

Send an online enquiry to receive a full Matt Morton & Co Information Memorandum and additional property documentation.

Please contact me for a further discussion or to arrange a viewing appointment once the information has been reviewed.