19A Queen Street, North Dunedin, Dunedin

Multi-use Investment

A fantastic opportunity to secure a prime university investment in Queen Street.
This multi-use, two-storey property includes two self-contained flats, Flat A upstairs consists of four-bedrooms and Flat B downstairs consists of one double bedroom, both fully furnished. With a combined weekly rent of $1,100 ($670 upstairs and $430 downstairs) $57,000 per annum.
The current owner has maintained and made substantial upgrades to this property, including a coloursteel roof and converting the basement into the modern one-bedroom self-contained flat, that is double glazed, warm, and spacious with its own laundry and terraced courtyard. Currently this flat utilises the single garage.
Flat A upstairs is on a fixed tenancy ending the 30th of Dec 2021. The kitchen, bathroom and windows throughout this flat have been professionally painted and partially double glazed.
Flat B downstairs has just become vacant, giving the new owner an opportunity to occupy themselves, re-rent as short-term accommodation, or as a fixed tenancy. Currently managed by 4SPM Ltd, https://www.4spm.co.nz/, who have easily tenanted this property in the past.
Easy care section for tenants to maintain, both flats capture great morning sun and have a pleasant outlook.
Within walking distance to Otago University, Hospital and the CBD, Queen Street is a popular street for students, giving the new purchasers a secure investment moving forward.
Deadline sale 21/07/2021 4pm. Unless sold prior.