5.9% gross with multi-income streams!

STRICT VIEWING TIMES APPLY! Not often will a genuine, multi-income stream property, with this level of finishing and this high a tenant satisfaction level, come on the market. Extremely low maintenance by design and stunningly renovated by choice. We are offering 5 separate apartments in one easy purchase, all boasting excellent tenants, many of whom very much want to call their flats "home" for years to come! Only 3 years ago a monumental transformation was undertaken which saw all apartments fully kitted out with beautiful new kitchens and bathrooms, new carpets and decor, new wiring, plumbing, re-lining and insulation where possible, a new roof installed, and all windows double glazed with the exterior all painted and refurbished where needed. No expense was spared including many industrial grade fixtures and fittings. Sitting in a location increasing rapidly in popularity and positioned nicely elevated out of the "flood risk zone", with easy access to shops, town, bus links, parks and schools this is about as easy and bullet proof as an investment property can get. The numbers are impressive with a weekly rental income of $2,140 which is $111,280 per year and all tenants are responsible for their own outgoings by way of electricity and telecommunications etc. The flat configurations are 3 x one bedroom, 1 x one bedroom plus an office and 1 x 2 bedroom plus an office with all having their own access, 3 having their own private courtyards plus the added bonus of 2 car parks which are also provided on site. This is a fantastic long-term investment opportunity and if you wanted to be in a position to benefit out of the major hospital build coming to Dunedin then this could well be it. It's not hard to work out what that build is going to do to the rental pressure on Dunedin's housing stock with a large number of out-of-town contractors due to arrive! Blue chip, low maintenance cash cow, enquire now! ASKING PRICE OF $1,890,000 SUPPORTED BY A REGISTERED VALUATION.

Additional Features

  • Bedrooms: 6 Bedrooms

  • Bathrooms: 5 Bathrooms

  • Chattels: Fixed floor coverings, Light fittings, Blinds, Curtains, Smoke detector(s), Heated towel rail(s), Cooktops x5, Ovens x5, Heat Pumps x5, Dishwashers x5, Rangehoods x5, Extractor Fans x5, Washing Machines x5, Fridge Freezers x5

  • Local Authority: Dunedin City Council

  • Joinery: Aluminium, Double Glazed

  • Roof: Longrun

  • Exterior Cladding: Brick, Rough Cast

  • Lot Features: Level, Fenced Fully

  • Feature Rooms: Study/Offices x2

  • Other Features: Water Heating - Electric

  • Number of Studies: 2

  • Disclose Sold Price: Undisclosed

Chris Maclean (Phone +64 27 227 2087)
Chris Maclean
Real Estate Marketing Consultant