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Listed 5 days ago

ID#524681

92 Stafford Street,

Dunedin City

Dunedin
$795,000
8
2
Approx
372
(≈4,004.17 sq.ft.)

High Cash Add-Value Investment

This eight-bedroom property offers a high cash return for your investment, while enjoying an approximate 7.8% return on current rental income. The property is priced to sell and increased returns here are a real possibility.

Boasting the charm of a by-gone period era, this substantial property offers a large open plan living and kitchen space for the eight tenants. The living room is warmed by a pellet fire and heat pump, while each of the eight bedrooms includes a fixed panel heater on a timer. The two bathrooms are each located upstairs and down, spaced out for convenience to the bedrooms.

The location of the property is attractive to a range of tenant types being close to the centre of town, yet in an urban setting. The current tenants are all students close to finishing their studies, who have preferred this location to the busier student quarter.

The property is rented for $1,200 per week on a fixed term tenancy until 31 December 2024. The rent is low by market standards indicating that rental increases are possible with some improvements to the property.

If cash returns are on your priority list for investment, then 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.

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Agent

Matt Morton

Matt Morton & Co Limited

Licensed Real Estate Salesperson (REAA 2008), Member of the REINZ

Matt’s inception into real estate started in 2011. With 22 years of business and commercial management experience, Matt has developed a reputation in the real estate sector for a very high level of quality and professionalism and introduced a residential investment selling strategy that still exceeds buyers’ and clients’ expectations.

He is trusted by clients nationwide and abroad to deliver a smooth sales process leading to record sales, and his local knowledge and understanding of the market is called upon by an array of stakeholders throughout the investment property sector. Matt continues to command the respect of his peers; professional colleagues and the wider investment community.

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This property was photographed by

Ewen Livingstone

Otago and Southland

ID#524681

92 Stafford Street,

Dunedin City

Dunedin
$795,000
proudly marketed by
Matt Morton
Matt Morton & Co Limited
Matt
021 577 800
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