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 generous 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 rental into the new generation. Vacant possession means you can start work immediately and be ready in time for the next rental season. 

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 pressure once the hospital fabrication phase is underway in the next few years. 

Joint and several tenancies are fetching $190 - $210 per room per week for properties in good condition, so a this promises a strong return once complete. 

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.