78A Manor Place, Central City, Dunedin

A Rental shortage? Here is the answer!

Deadline sale 9/10/19

STRICT VIEWING TIMES: (Last one Sunday 06/10/2019 12pm to 12:45pm) - A magnificent investment option in one of Dunedin's rapidly changing locations. The City Rise area has become more and more popular almost by the day and these purpose built 4 times 1 bedroom flats offer fantastic holding income with a huge upside with the renovation potential on offer. Currently fully tenanted to long term tenants and returning $42,640 gross per year ($820 per week) we have three of the flats on fixed terms that sneak into 2020 and one that will become vacant and available in the first week of November. This presents exciting options to renovate and increase the yield, live in one and collect the rent from the other 3 or even rent out again as it is right now. Built in the early 1970s and 3 of the 4 still being in a largely original condition we have the added benefits of a heatpump and whiteware in each flat, open plan kitchen/living and one bedroom with a bathroom and the roof has been replaced. The location lends itself to an easy walk into town and the flats are elevated off the street with some off-street parking available. Great views by day and night, so much to like and so easy to make even better. Be quick with this one, purpose-built and a rock-solid investment.