North Dunedin
110A Harbour Terrace, North Dunedin, Dunedin
+28
Well presented student residential investment
Unit titled duplex in heart of Otago University/ Otago Polytechnic campus. Double story, five bedroom, two bathroom unit. Built in 1993 by vendor, faithfully maintained and recently fully refurbished, repainted and renovated. Double glazed, integrated fire alarm, new appliances, new floor coverings.
This investment physically compares very favourably with other properties with similar returns.
Rented at $210/room/ week. Gross annual rental $54,600. 12 month lease.
Always 100% rented throughout its entire life.
Robin Hyndman
Otago Realty Group Ltd, Bayleys,
Licensed under the REA Act 2008
Features
Location
In Harbour Terrace across from expansive Logan Park and in central campus area.
Dwelling details
Five bedroom, two bathroom student flat with generous living areas.
Investment
Returning $54,600 per annum. 6.42% gross return on asking price of $850,000.
Year built
Built in 1993 by current vendor. Always popular with tenants. Has not had a day where unrented.
Outdoor living
Landscaped backyard which is very popular with tenants.
Heating
Heat pumps. Fully compliant with Healthy Homes legislation. Integrated fire alarm system operating on mains supply. Peace of mind.
Chattels
All new stove, fridge/freezer, washing machine, dryer.
Renovated
Fully repainted inside and out, new carpet, new bathrooms, double glazing.
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Property files
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