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Back 86 Queen Street
Off Market

86 Queen Street

North Dunedin Otago

7
2
230 m²
506 m²
House
Matt CutlerMatt Cutler, last sold this property on 14 October 2021 after 10 days on market.

Overview

Prime Development Opportunity

This will be one of the last opportunities to buy a development site on the most sought-after street for 3rd year students. In general, the demand for student flats currently outweighs supply and the race to rent a house on Queen Street starts in April/ May the year prior with 100+ prospective tenants often turning up to open viewings of flats in that area. The 7 bedroom, 2 bathroom flat contains 6 big bedrooms plus a sleepout, open plan kitchen/ living area, courtyard out back and a car port. It is currently tenanted until 31/12/21 at $840 per week with the next lease starting from 8/01/22 - 30/12/22 at $924 per week. Spouting repairs still need to be completed for the house to comply with healthy homes requirements, but the vendor is happy to have this completed for the successful purchaser. The 506m2 site allows for up to 11 bedrooms (subject to building consent) and in the current market, a new flat on Queen Street will return a minimum of $200 per room. Renovate the existing building and add bedrooms or knock it over and start fresh. Either way, with tenants locked in until the end of 2022, you have plenty of time to plan and work out the best way to maximise the potential of this property. Tender closes at 4.00pm on Thursday the 14th of October 2021. No prior offers Proudly marketed by Matt Cutler at Cutlers Real Estate

Features

7 bedrooms
2 bathrooms
230 m² floor area
506 m² lot size
House

Estimated Value

We need at least 3 similar 7 bedroom houses sold in North Dunedin over the last 12 months.

Property history for 86 Queen Street

2021
Sold
Undisclosed
14 Oct 2021 by Matt Cutler, of Cutlers

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 7 bedroom houses in North Dunedin

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