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1037 George St

North Dunedin Otago

13
6
1
613 m²
House
Currently for sale - view listing

Overview

A TALE OF THREE PROPERTIES

Three Homes. One Title. Outstanding Income & Future Potential. This is an investment opportunity combining the charm of a substantial 100+ year-old residence with two stylish, modern townhouses, all positioned on a 613m² corner site. THE MAIN RESIDENCE With an impeccable rental history, this popular nine-bedroom student flat has a flawless rent history and continues to deliver. Featuring nine generous bedrooms (including a sleep-out with recently insulated walls), three bathrooms, a spacious kitchen/dining area, separate lounge and two off-street car parks. Currently returning $2,160 per week, increasing to $2,205 per week for 2027. THE TOWNHOUSES Completed in 2021, these two beautifully appointed, north-facing townhouses offer contemporary comfort with double glazing, insulation and quality finishes throughout. Each features two spacious bedrooms with ensuites upstairs, complemented by a generous open-plan kitchen, dining and living area downstairs. Together, the townhouses currently return $1,560 per week, increasing to $1,680 per week for 2027. Rent includes electricity, Wi-Fi and fortnightly communal-area cleaning. INCOME SUMMARY 2026 income Weekly $3,720 2027 income Weekly $3,885 Annualised 2026 $193,440 2027 $202,020 Currently held on one title, the three residences also offer the exciting possibility of future unit titling or subdivision (subject to DCC approval) Retain all three for an impressive ongoing income stream, explore selling individually, or release capital while retaining part of the investment. With gross rental income exceeding $200,000 for 2027, this is an opportunity that delivers on income today, with exciting options for tomorrow. Three residences. One exceptional investment. A future full of possibilities.

Features

13 bedrooms
6 bathrooms
1 carspace
1 garage space
613 m² lot size
House

Property history for 1037 George St

2018
Sold
$755,556
24 Jan 2018 by Matt Cutler

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92% of sellers in North Dunedin reported that their sale price either exceeded or met their price expectations.

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Local market activity for 13 bedroom houses in North Dunedin

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