33A/B Woodhaugh Street

Woodhaugh Otago

239 m²

506 m²

House

Currently for sale - view listing

Overview

Dual income investment. $62,400 p.a.

Two flats, six bedrooms and $62,400 p.a. in current rental income. 33A/B Woodhaugh Street presents investors with two established income streams on one freehold title. Considerable maintenance and upgrading has been undertaken over the years, resulting in a well-presented investment with much of the hard work already done. At the front, 33A is a modernised two-bedroom flat with an open-plan kitchen, dining and living area opening directly to a north-facing deck. Both bedrooms have built-in wardrobes, while a modern bathroom, heat pump and extensive double glazing complete a comfortable and well-presented home. It is currently rented at $475 per week. Behind it, 33B provides four bedrooms and two bathrooms, together with a generous open-plan kitchen, dining and living area. It is currently rented at $725 per week. The property has seen significant investment over the years, including extensive double glazing, insulation updates, and numerous improvements to both the buildings and grounds. A sealed driveway runs the length of the property to a double garage at the rear, providing valuable off-street parking and storage. Positioned in an established rental location with good proximity to the University of Otago, Otago Polytechnic, Dunedin Hospital and central city, the property offers broad tenant appeal rather than being limited solely to the student market. With a combined rental income of $1,200 per week, or $62,400 per annum, two separate flats and substantial improvements already undertaken, this is a straightforward investment proposition with the numbers to back it up. Viewing by appointment.