Investment plus Bonus Land
1057 George Street, North Dunedin, Dunedin, Otago
Asking price $869,000
- 5 Beds
- 1 Bath
- 491m² Land
|Broadband in the area
The property has two elements to consider with a solid student flat to the front and then the ability to construct six new bedrooms, in any dwelling format, to the rear of the property.
The five-bedroom flat meets all the Healthy Homes requirements, plus lush modern carpet and a pleasant, sunny living space. The property is tenanted for 2024. This solid brick building with modernised roof, offers excellent holding income while you consider plans to develop the rear yard to meet the ever-growing demand of this proven rental market.
The land capacity is for approximately 11 rooms (subject to Council consent), allowing a potential six room development to be undertaken. This could be in three 2-bedroom units (a highly coveted size) or one larger 6-bedroom unit, the options are aplenty.
This specific location is close to the university but known for attracting the slightly more astute students as it is quieter than the central party zone. The bus going past every 15 minutes allows for very easy, convenient access to town, whether it be work, study or play.
A full Matt Morton & Co Information Memorandum and additional property documentation are available on request.
Please contact me for a further discussion or to arrange a viewing appointment once the information has been reviewed.