Stafford Street, City Centre, Otago

This eight-bedroom property offers a high cash return for your investment, while enjoying an approximate 7.8% return on current rental income. The property is priced to sell and increased returns here are a real possibility.

Boasting the charm of a by-gone period era, this substantial property offers a large open plan living and kitchen space for the eight tenants. The living room is warmed by a pellet fire and heat pump, while each of the eight bedrooms includes a fixed panel heater on a timer. The two bathrooms are each located upstairs and down, spaced out for convenience to the bedrooms.

The location of the property is attractive to a range of tenant types being close to the centre of town, yet in an urban setting. The current tenants are all students close to finishing their studies, who have preferred this location to the busier student quarter. 

The property is rented for $1,200 per week on a fixed term tenancy until 31 December 2024. The rent is low by market standards indicating that rental increases are possible with some improvements to the property.

If cash returns are on your priority list for investment, then 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.