


Listing Description
Impeccable Dual Investment - 9.3% Return
310 High Street, City Centre, Dunedin, Otago
Asking price $1,275,000
Details
Attribute | Value |
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Property type | House |
Broadband in the area |
Description
The character property 310 High Street is situated on the corner of the award winning Heritage View precinct. Located 600m from the CBD, the property is consistently sought after by working professionals looking for quality level accommodation and the convenience of inner city living. The property offers two four-bedroom apartments on ground and first floor levels. The apartments which are on one title are one of the best presented investment properties you will find on the market. Please note this is not a boarding house as the property is split into two separate parts. Dunedin City Council 2025 rates documentation is available for clarification. Tenancy agreements are standard residential fixed term tenancies. The owners have been highly attentive and diligent in every maintenance aspect of this property with extensive upgrades undertaken over the past few years such as complete refurbishment of the interior, exterior painting and double glazing. The tenants attracted to this property are a mixture of workers and sometimes senior students, whom rent rooms individually on fixed term tenancies, ideal for mature working tenants seeking a more independent, long term private living situation. The property is also capable of being rented as two separate leases. The rooms are double glazed, heated and furnished with good quality chattels. Electricity and cleaning are supplied within the rent. The internet is a separate charge if the tenants wish to be connected. Some rooms have ensuite bathrooms and kitchenettes and others have either private bathrooms or shared options with a total of six bathrooms in the property. Two off street car parks at the front of the property, a utility area with garden shed at the rear of the property and a pleasant private courtyard garden with flowering shrubs and seating also at the rear are available for tenants' use. Fully tenanted for 2025, the total 2025 annual income is approximately $119,000.00 which represents approximately a 9.3% gross return on the asking price. An independent rental appraisal is available showing a further potential increase. Some landlord costs apply to the operation of the tenancies. This investment property is simply outstanding. The next discerning investor will cherish this asset within their portfolio. We welcome all enquiries to discuss further or to arrange a viewing appointment.
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