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Back 1/29 Spencer Street
Off Market

1/29 Spencer Street

Andersons Bay Otago

16
12
11
0 m²
Unit
Pam MulderPam Mulder, last sold this property on 23 February 2026 after 24 days on market.

Overview

Suburban Investment Opportunity- 12 x Unit Block

Rare opportunities like this don't come around often. Held in the same ownership for 22 years, this exceptional investment property delivers circa $236,000 in gross annual income and offers the stability investors seek. Comprising 12 well-designed units, 8 x one bedroom and 4 x 2 bedroom. The property enjoys low tenancy turnover and a strong base of long-term tenants, attracted by its peaceful atmosphere and sense of community in a quiet suburban street, tucked up a driveway. Architecturally designed and built in 1975 for the Methodist Mission, the complex was purpose-built for quality living. Today, it continues to attract quiet, respectful tenants, predominantly older residents who value privacy, sunshine, and a calm lifestyle. Set on a generous 2,822 flat site, the property offers easy access to all units, 9 off-street car parks, and future potential to add more parking if required. Located in a highly sought-after suburb, this is an investment where one and two bedroom units are always in demand, especially in a quiet, community-focused setting like this. All units are Healthy Homes compliant and well maintained with excellent natural light throughout. This is a rare, tightly held asset offering strong returns, proven longevity, and future upside. Secure a premium investment with income, stability, and long-term appeal and be only the third owner in 50 years. Please do not enter the property without the agent please contact the agent to arrange a time to view. Unless sold prior by private treaty.

Features

16 bedrooms
12 bathrooms
11 carspaces
11 open car spaces
0 m² floor area
Unit

Estimated Value

We need at least 3 similar 16 bedroom units sold in Andersons Bay over the last 12 months.

Property history for 1/29 Spencer Street

2026
Sold
Undisclosed
23 Feb 2026 by Pam Mulder, of LJ Hooker Dunedin

Happy sellers in Andersons Bay

81%
81% of sellers in Andersons Bay reported that their sale price either exceeded or met their price expectations.

Andersons Bay stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 37 reviews in Andersons Bay over the last 12 months.

Local market activity for 16 bedroom units in Andersons Bay

Nearby agents

Compare and contact these top performing agents who’ve delivered exception customer service for their clients in Andersons Bay

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Amelia Hermens

Sellers who recommend Amelia Hermens have praised them for being clear communication, local expert, responsive, friendly, supportive, easy to work with and stress-free process

  •   4.9   (148 reviews)
  •  11 Reviews in Andersons Bay
  •  10 Sales in Andersons Bay
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Geraldine Hermens

Sellers who recommend Geraldine Hermens have praised them for being local expert, clear communication, reliable, supportive, friendly, responsive and honest

  •   5   (301 reviews)
  •  6 Reviews in Andersons Bay
  •  11 Sales in Andersons Bay
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Alice Munro

Alice Munro is an award winning recommended agent for Andersons Bay.  They have 5 local sales and collected 6 local reviews across the last 12 months.

  •   4.9   (466 reviews)
  •  6 Reviews in Andersons Bay
  •  5 Sales in Andersons Bay
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Pam Mulder

Sellers who recommend Pam Mulder have praised them for being clear communication, local expert, friendly, supportive, responsive, honest and reliable

  •   5   (165 reviews)
  •  5 Reviews in Andersons Bay
  •  4 Sales in Andersons Bay
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