Multiple Flat Investment - 8.7% return
74 Heriot Row, North Dunedin, Dunedin, Otago
Enquiries over $1,195,000
- 6+ Beds
- 3 Baths
|Broadband in the area
This large, three flat property has been a consistent high cash flow performer and is now ready for the next phase in its life.
The three flats consist of a 5-bedroom, a 4-bedroom and a 2-bedroom flat, signed under fixed tenancies for 2024 for $2,000 per week returning approximately 8.7% gross return against the asking price. Refurbishments to the property could lift the rent further and in this high tenant demand market, buyers can take confidence with the project.
Sitting high above the University campus, the views are spectacular and allows the new owner to create something special. An upgrade plan would allow for further rent growth, or conversely with no heritage elements on the property, the site could be developed into new units similar to the neighbouring properties.
Email us an enquiry to receive a full Matt Morton & Co Information Memorandum and additional property documentation including LIM, electrical reports, floor layouts and 3D Virtual Tours.
Viewings are by private appointment only with our Broker.