Duplex value-add opportunity! $379,000+

UNDER CONTRACT - NO FURTHER VIEWINGS IN THE INTERIM.

Earn up to $700pw in rent by completing flat B - do the math! Interest rates are at record lows and LVR restrictions have been removed so this is a great time to invest. Ideally you'll be in a trade, or have contacts in the trades to help complete this project.

In a nutshell, this is an approved duplex - a building divided into 2 flats. Furniture is included in flat A which is tenanted, and displayed hardware included in flat B (refer to the Agreement for the chattels list).

The front part (flat A) of the original house is currently rented to a very good long term tenant for $220pw.
The rear part (flat B) was about to undergo a major renovation. The owners circumstances have changed so this is for sale 'as is where is'. Rental appraisal when completed is up to $475pw. This should be popular as it would be modern, warm, sunny and has a great yard.

Council have indicated that another unit could be added at the rear. The application for building consent is currently on hold (in processing stage with council) so the new owner can confirm what they want to do and go from there. Check out the property information on my website, including a floor plan for flat B.

Fully fenced with a nice, flat, sunny north facing rear yard. Great location on the corner of tree-lined Baker Street with lots of shops and services, and only a short commute to the Esplanade, South Dunedin shopping centre or the CBD.

For extensive property information go to: www.lawrencepeeters.co.nz/current-listings

KEY DETAILS: *CV: $375,000 (01/07/19) *DCC Rates: $3,473.40 (multi-unit) *Floor area: 120m2 *Land Area: 579m2 (Freehold)

Additional Features

  • Bedrooms: 4 Bedrooms

  • Bathrooms: 3 Bathrooms

  • Chattels: Flat A: Blinds, Curtains, Fixed Floor Coverings, Table and 4 Chairs, Lounge Suite Including 2 Lounge Seats, Coffee Table, Television Table, Floor Rug, Bedroom Standing Wardrobe, Lawn Mower. Flat B: Westinghouse Stove (disconnected), Delonghi Dishwasher (disconnected), Daikin Wall Mounted Heat Pump (disconnected), Rinnai Infinity VT26 Gas Califont (disconnected), Goldair Bathroom Fan Heater (on wall), Garden Shed, Children's Playground Slide, 2x Gas Bottles. Hardware included in Flat B: Kitchen Cabinets x3, Cabinet with 3x Cane Drawers, St Michel Bathroom Vanity (new), Acrylic 900x900mm Shower Tray (new), 900mm Curved Door Set (new), Raymor Single Spray Hand Shower Set (new), Newline Acrylic Wall Liner (three sided 1900x1950mm, new), Promix Chrome Shower Mixer (new), Raymor Avon Basin Mixer (new), Methven Centique Sink Mixer (new), Waldorf Toilet Seat (new), Stylus Dorado Wall Faced Close Coupled Toilet Pan (new), Stylus Universal Close Coupled Cistern (new)., Flat A: Westinghouse Stove, Mitsubishi Fridge/Freezer, Fisher and Paykel Washing Machine, Goldair Bathroom Fan Heater, Manrose Bathroom Extractor Fan, Fujitsu Heat Pump.

  • Number of Living Rooms: 2

  • Off Street Park: 2

  • Local Authority: Dunedin City Council

  • Joinery: Aluminium, Timber

  • Roof: Corrugated iron

  • Exterior Cladding: Weatherboard

  • Lot Features: Level, Garden, Fenced Fully, Corner Section

  • Other Features: BBQ Area, Deck/Patio, Water Heating - Gas, Water Heating - Electric

  • Style: Duplex

Lawrence Peeters (Phone +64 21 992 993)
Lawrence Peeters
Marketing Consultant - Real Estate Agent
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