Set on a substantial 3,906 sqm (approximately) landholding, the property is currently generating $2,395 per week for 2026, delivering immediate cash flow with clear potential for future growth. Configured as four separate flats, it provides diversified income streams and reduced vacancy risk. Previously operated as a single large residence, it also offers flexibility for alternative management strategies. There is clear value-add potential through further interior upgrades, presenting an opportunity to enhance rental returns and overall asset value over time.

Positioned opposite the Caledonian sports grounds and within close proximity to key recreational facilities, including cricket, hockey, football, and the stadium - the location is highly sought after by the student market. It is also within easy walking distance to Otago Polytechnic, the University of Otago, Dunedin Hospital, and the Dental School, supporting consistently high occupancy levels.

The west-facing aspect captures excellent afternoon sun, enhancing tenant appeal. Recent capital improvements include a full exterior repaint, ensuring a well-presented, low-maintenance investment. Ample off-street parking further adds to the property's practicality and desirability.

A rare opportunity to secure a scale investment in a prime location, offering strong returns today with significant upside for the future.

Web iD: IN12239
Approximate land area: 3906m²
Approximate floor area: 490m²
Rateable value: $1,380,000