48 Gladstone Rd

North East Valley Otago

506 m²

House

Currently for sale - view listing

Overview

Renovated. Rented. High-Yield Investment.

A substantial six-bedroom, three-bathroom investment, extensively renovated to a high standard and already secured with long-term tenants. The property is currently returning $1,260 per week, increasing to $1,320 per week from 1 January 2027, with the tenancy secured through to 31 December 2027. From January 2027, this equates to an impressive $68,640 gross annual rental income. The main residence provides five generous bedrooms and two modern bathrooms, while the separate sleepout adds a sixth bedroom and third bathroom, delivering excellent flexibility for larger tenant groups. At the heart of the property is a spacious open-plan kitchen, dining and living zone. Skylights bring in plenty of natural light, while the contemporary kitchen, stainless-steel benchtops and excellent indoor-outdoor connection give the home a level of finish well above the typical investment property. Sliding doors open to a private courtyard, creating valuable additional living space for tenants. Investment Highlights: ** 6 bedrooms in total ** 3 modern bathrooms ** Currently rented at $1,260 per week ** Rent increasing to $1,320 per week from 1 January 2027 ** $68,640 gross annual income ** Tenanted through to 31 December 2027 ** Current tenants have indicated interest in staying beyond the existing term ** Healthy Homes compliant ** Fully double glazed throughout ** New weatherboard cladding around the home ** Multiple heat pumps for year-round comfort ** Comprehensive renovation completed to a high standard ** Modern kitchen with stainless-steel benchtops ** Spacious open-plan kitchen, dining and living ** Private courtyard and outdoor living ** Custom-made fretwork to the veranda ** Traditional picket fencing ** Off-street parking for three vehicles ** Strong tenant appeal with the hard work already completed The renovation has been approached with both presentation and longevity in mind. Modern bathrooms, updated interiors, durable finishes, full double glazing and new weatherboard cladding combine to create a property designed to perform as an investment while minimising the immediate need for further capital expenditure. This is not simply a high-yielding rental. It is a well-established investment where the renovation is complete, the tenants are in place and the income begins from day one. For investors looking for a substantial Dunedin property without taking on another renovation project, this deserves serious attention. *** Prior Offers Considered *** Public Download Link: https://www.ganeshrout.co.nz/current-listings/48-gladstone-road-north-east-valley-dunedin-9010