Significant Add-Value Renovation
Significant Add-Value Renovation
This property has been a successful student rental for the past few decades and is now ready for the new owner to take over and add significant value through renovations and adding additional rooms to increase the rent and therefore capital value.
The classic look of the flat appeals to students, and the increase in discerning tastes mean tenants are attracted to the modernizing of property that renovations can deliver. This increases the attractiveness of the property and matches the coveted location in the heart of the student quarter. It is just minutes from the central University campus which is always highly desired by student tenants and ensures high demand for flats in this area year after year.
Five habitable rooms are possible under the Inner City Residential zoning rules and options exist to add additional rooms to the property (subject to the appropriate consents). This can increase the rental income further and help to establish a high yielding asset for your efforts.
The property is currently rented at $750 per week on a fixed tenancy until 31 December 2024, so holding income exists while you make your renovation plans and execute when ready.
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.