North Dunedin - Dunedin City 770 George Street, North Dunedin, Dunedin City, Otago 9016

  • 11
  • 10
  • 3

Sold

Soaring Investment

This character property comprises a substantial nine-bedroom, nine-bathroom dwelling, with a separate two-bedroom flat at the rear of the property.

The Albatross Inn currently operates as a short term bed & breakfast lodge but would also suit reverting to long term student residential accommodation given its very close proximity to Dunedin's tertiary institutions. An independent rental appraisal values the rent per week at around $1,620 for the main dwelling as one fixed shared tenancy and $385 for the private two bedroom flat, with some work to undertake to set this up.

Large properties with ensuites are rare, yet coveted by discerning students looking for a comfortable study situation so close to the Medical and Dentistry Schools. The new owner can reap the benefits of quieter focused tenants in a large cashflow property.

The property oozes character, including ornate ceilings and beautiful stained-glass windows and comes fully furnished in a period style of a quaint bygone era. A diesel boiler system with assisted solar water heating is installed to modern radiators situated throughout the property. This warm, peaceful property will be loved by tenants.

• A rare large ensuited property
• Close proximity to the Medical and Dental Schools
• Ready for conversion to long term rental property

A full Colliers Information Memorandum and additional property documentation including LIM are available on request.

Viewings are by private appointment only with our Brokers.

Other investment options at colliersotago.co.nz

Property Details

Ref

  • 20574835

Property type

  • House

Floor area

  • 380 sqm

Land area

  • 506 sqm

3D Walk-Through

Location 770 George Street, North Dunedin, Dunedin City, Otago 9016

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Matt Morton

Investment sales broker

Dunedin Office