Exceptional Three-Flat Investment
With a mixture of a 4-bed, 2-bed and 1-bed flat, this versatile 1948 built property offers a variety of options to suit a wide pool of tenants. Currently the 4-bedroom flat is taken by student tenants, with the other two smaller flats occupied by working tenants. A large parking area and two garages mean they are well provided for easy vehicle access and storage.
The large sunny section provides an oasis feel in the middle of a busy popular suburb and the short walk to the main University campus or Medical and Dental School precinct is always appreciated by the student tenants.
The major drawcard for tenants to this property is the central heating. A diesel boiler system was installed in 2019 connected to modern radiators to almost all rooms in all three flats. Warm and cosy would be an understatement, and this type of heating is rarely seen and an absolute treat in Dunedin's testing winters. The 4-bed and 2-bed flats also have heat pumps installed if a quick top up is needed and all flats have recent Healthy Homes compliance certificates.
After heating costs are deducted, the property generates approximately $1,770 per week in rental income, offering a reliable cash flow.
Please enquire for a full Information Memorandum including 3D Virtual Tours, access to all building, electrical, Healthy Homes and LIM reports, plus a breakdown of rental income, heating costs and fixed tenancy terms.
Contact me for a further discussion or to arrange a viewing appointment.