Ramsay Street, Dalmore, Otago

Nestled within the sought-after locale of Dalmore, Dunedin, the exclusive offering at 42 Ramsay Street presents an unrivalled opportunity for astute investors and developers. This freehold property encompasses 701 square metres of land primed for additional development, accompanied by a tastefully modernised building hosting a trio of flats, guaranteeing a stable rental yield.

The property comprises two one-bedroom flats and one spacious two-bedroom flat, each refurbished to an impeccable standard with contemporary kitchens, sleek bathrooms and plush carpeting. Further previous enhancements include a complete re-roofing, rejuvenated cladding, upgraded electrical wiring, and compliance with all Healthy Homes Standards. Collectively, the flats yield a lucrative weekly income of $1,270, serving as an ideal revenue stream while future development plans come to fruition.

Excitingly, a Resource Consent application is underway for the construction of an additional three one-bedroom units on-site, anticipated to receive Council approval imminently. With the highest demand noted for one-bedroom accommodations, particularly from the discerning student market, the potential for significant capital growth is substantial.

Strategically positioned, the site allows for a mere 15-minute stroll to the University, while the convenience of local shopping amenities is just two blocks away. With off-street parking spaces adding to the appeal, 42 Ramsay Street is poised to be the jewel in the crown of any property portfolio, blending immediate returns with exceptional future prospects.

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