267 Macandrew Road, Forbury, Dunedin

Solid and secure investment opportunity

This charming 1920's three-bedroom brick bungalow is ideally located in the desirable suburb of Forbury. Constructed with solid materials, this investment property features a dependable tenant in place under a fixed-term lease until February 2026, yielding a rental income of $600 per week. Recent upgrades to meet healthy home standards have been completed, making this property an excellent addition to your portfolio. It not only offers the potential for future capital appreciation, but also presents opportunities for further enhancement.

This versatile property allows tenants to customize the space as they see fit, featuring a traditional layout with spacious living areas. Currently configured with three bedrooms (two doubles and one single), it can easily be transformed into four bedrooms (three doubles and one single) while offering a more compact living area. The well-equipped kitchen overlooks the back garden, providing ample storage and counter space.

The family bathroom has been tastefully renovated, boasting a new shower, vanity, toilet, and flooring. Additionally, the property features a separate second toilet and laundry, enhancing functionality and offering ample space for potential for future development.

Recent upgrades include new insulation, a rangehood, extractor fans, new window furnishings and extensive electrical work. The property is also warmed by two heat pumps. Tenants are provided with a dishwasher and washing machine, which are included in the chattels.

Ample parking at the rear and a generous backyard, offer flexibility for landscaping or the possibility of adding a garage.

Located close to all essential amenities, excellent schools at all levels, and just a short drive from St Clair Beach and the Esplanade, this property is perfectly positioned for both investment and lifestyle.

Our vendors are motivated to move this asset on, presenting an exceptional opportunity to enhance your portfolio with this property.

(Please note, photos for this listing are from when the property was previously sold)