Stuart Street, City Centre, Otago

This central city property presents an opportunity for a savvy renovating investor to scoop up a property primed for a refurbishment to meet the higher expectations of modern-day tenants. 

The six bedrooms are all good sizes with two shared bathrooms, and one room featuring its own full ensuite. The living space opens to the kitchen at the rear, but a tired feel resonates over the property which is waiting for a makeover to lift the property. Renovation work to the internal paint, carpet and kitchen would all be a major benefit to the property, while settled piles could be remedied to correct some sloping floors. 

Vacant possession means you can start work immediately, but a fixed term tenancy agreement has been signed for 2025 at $800 per week and must be honoured. Any refurbishment work undertaken would increase the rental return from 2026 onwards and set the property up for the future. 

Demand for inner city rentals is forecast to swell in the coming years with a bubble of students moving through the high school system tipped to hit the tertiary market from 2025, and the construction workforce will add additional tenant pressure once the hospital fabrication phase is underway in the next few years. 

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.