Dunedin Central - Potential for renovation and growth

Description

Looking for a unique investment opportunity in the heart of the city? This residence is awaiting your personal touch, offering multiple options for customization and transformation to suit your investment needs.
This large, distinguished brick property has in previous years been an eight-bedroom boarding house. It is currently rented for 2024 as a five-bedroom studio flat at $220 per room per week and signed as a 7-bedroom flat on one tenancy for 2025 at $1,225 per week.
The property consists of one kitchen and four kitchenettes, two full bathrooms and a third toilet. Four bedrooms on the ground level and another four bedrooms upstairs with lovely views over the city. A separate laundry area is attached at the rear of the property along with lockable storage rooms. There is a basement room with external access and ample space for storage or creative utilization based on your unique preferences.
Some windows have been replaced with UPCV frames while both bathrooms have been renovated. The property offers off-street parking for three cars. Positioned just a few minutes' walk into the city centre and close to the university it opens up opportunities for different types of tenants.
Your options are aplenty, turn it back into a boarding house or rent it out on one tenancy. The site allows up to 13 bedrooms subject to council consent making it an exciting prospect for those with a vision for expansion. This is your chance to invest in a prime central location with multiple options available is seldom.
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