For Sale

1037 George St, North Dunedin, Otago

$2,790,000

13
6
1
613 m²

House

•

1 day on the market

What's around 1037 George St

A TALE OF THREE PROPERTIES

Three Homes. One Title. Outstanding Income & Future Potential. This is an investment opportunity combining the charm of a substantial 100+ year-old residence with two stylish, modern townhouses, all positioned on a 613m² corner site. THE MAIN RESIDENCE With an impeccable rental history, this popular nine-bedroom student flat has a flawless rent history and continues to deliver. Featuring nine generous bedrooms (including a sleep-out with recently insulated walls), three bathrooms, a spacious kitchen/dining area, separate lounge and two off-street car parks. Currently returning $2,160 per week, increasing to $2,205 per week for 2027. THE TOWNHOUSES Completed in 2021, these two beautifully appointed, north-facing townhouses offer contemporary comfort with double glazing, insulation and quality finishes throughout. Each features two spacious bedrooms with ensuites upstairs, complemented by a generous open-plan kitchen, dining and living area downstairs. Together, the townhouses currently return $1,560 per week, increasing to $1,680 per week for 2027. Rent includes electricity, Wi-Fi and fortnightly communal-area cleaning. INCOME SUMMARY 2026 income Weekly $3,720 2027 income Weekly $3,885 Annualised 2026 $193,440 2027 $202,020 Currently held on one title, the three residences also offer the exciting possibility of future unit titling or subdivision (subject to DCC approval) Retain all three for an impressive ongoing income stream, explore selling individually, or release capital while retaining part of the investment. With gross rental income exceeding $200,000 for 2027, this is an opportunity that delivers on income today, with exciting options for tomorrow. Three residences. One exceptional investment. A future full of possibilities.
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