74 Heriot Row

North Dunedin Otago

House

Currently for sale - view listing

Overview

Multiple Flat Investment

This large, three flat property has been a consistent high cash flow performer and is now ready for the next phase in its life. The three flats consist of a 5-bedroom, a 4-bedroom and a 2-bedroom flat, with two of the three signed under fixed tenancies for 2025. Once fully rented, the projected returns would be near 8.9% gross return against the asking price. Refurbishments to the property could lift the rent further in future years and now could be the time to renovate the vacant 5-bedroom flat and increase the rents to maximize potential returns. Sitting high above the University campus, the views are spectacular and allows the new owner to create something special. An upgrade plan would allow for further rent growth, or conversely with no heritage elements on the property, the site could be developed into new units similar to the neighbouring properties. Send an online enquiry to receive a full Matt Morton & Co Information Memorandum and additional property documentation. Please contact me for a further discussion or to arrange a viewing appointment once the information has been reviewed.