482 Hillside Road, South Dunedin, Dunedin

Duplex value-add opportunity! $379,000+

UNDER CONTRACT - NO FURTHER VIEWINGS IN THE INTERIM.

Earn up to $700pw in rent by completing flat B - do the math! Interest rates are at record lows and LVR restrictions have been removed so this is a great time to invest. Ideally you'll be in a trade, or have contacts in the trades to help complete this project.

In a nutshell, this is an approved duplex - a building divided into 2 flats. Furniture is included in flat A which is tenanted, and displayed hardware included in flat B (refer to the Agreement for the chattels list).

The front part (flat A) of the original house is currently rented to a very good long term tenant for $220pw.
The rear part (flat B) was about to undergo a major renovation. The owners circumstances have changed so this is for sale 'as is where is'. Rental appraisal when completed is up to $475pw. This should be popular as it would be modern, warm, sunny and has a great yard.

Council have indicated that another unit could be added at the rear. The application for building consent is currently on hold (in processing stage with council) so the new owner can confirm what they want to do and go from there. Check out the property information on my website, including a floor plan for flat B.

Fully fenced with a nice, flat, sunny north facing rear yard. Great location on the corner of tree-lined Baker Street with lots of shops and services, and only a short commute to the Esplanade, South Dunedin shopping centre or the CBD.

For extensive property information go to: https://www.lawrencepeeters.co.nz/current-listings

KEY DETAILS: *CV: $375,000 (01/07/19) *DCC Rates: $3,473.40 (multi-unit) *Floor area: 120sqm *Land Area: 579sqm (Freehold)