Investment on the Hill - 7.3% return
Situated above the student campus, the property presides over stunning views of the campus, city and ocean beyond. This attracts generally older student tenants looking for a quieter area to live, especially bordering the Council's leafy reserve and just below the eloquent Maori Hill area.
The main house contains five bedrooms and two bathrooms rented at $950 per week, while a single bedroom flat below current rents for $245 per week. The property has always been popular with tenants and would be ideal for parents looking for a more homely feeling property to purchase for their children while studying in Dunedin.
The property is being sub-divided off its original large section, which has been fully developed with new flats now completed. The sale is just for this dwelling and will be subject to the new title being issued, which is in its final stages.
Contact me for an in-depth discussion about the property and the bulging student market, and why this property will work for your requirements.
A full Matt Morton & Co Information Memorandum and additional property documentation are available on request.
Viewings are by private appointment only with our Broker.