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853 George Street

North Dunedin Otago

5
1
151 m²
327 m²
House
Currently for sale - view listing

Overview

BLUE CHIP LOCATION

This centrally located investment opportunity contains a spacious, double-glazed, open plan kitchen / living area, three big bedrooms and two medium-sized, one bathroom plus a separate toilet / laundry area and a nice sunny courtyard out back. Rented at $875 per week until the end of 2026, there is an obvious play here that would bring the rent up to excess of $1290 per week: • The 327m2 site allows for up to 7 bedrooms without a resource consent and there used to be a toilet in the shed out back. Seems like a no brainer to covert that shed into a nice 6th bedroom. • Convert the toilet/ laundry into another bathroom • Finish off the double glazing • General upgrade of the interior - new kitchen, carpet, paint etc. Owners of student flats across New Zealand are about to enter a very profitable phase as birthrates indicate that universities will see an unusually high intake of students for the rest of the decade which will drive rents up. Now is as good a time as ever to capitalise on the growing demand for student housing in New Zealand and you certainly can't go wrong buying a property in a blue-chip location that has scope for considerable capital gains.

Features

5 bedrooms
1 bathroom
151 m² floor area
327 m² lot size
House

Property history for 853 George Street

2020
Sold
$565,000
15 May 2020 by Clayton Sievwright, of Edinburgh Realty Ltd Dunedin

Happy sellers in North Dunedin

89%
89% of sellers in North Dunedin reported that their sale price either exceeded or met their price expectations.

North Dunedin stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 9 reviews in North Dunedin over the last 12 months.

Local market activity for 5 bedroom houses in North Dunedin

In the last 12 months, 2 five-bedroom houses similar to 853 George Street, have been sold.

This represents a 60% increase in five-bedroom houses sales when compared to the previous 12 months.

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