Primed for the savvy investor, this block of units offers a collection of three one-bedroom flats, each boasting full self-containment within a character building.
Generating a robust total rent of $920 per week, with all flats currently secured under fixed-term tenancy agreements, this property promises a consistent income stream. These working tenants are drawn to the convenience of the location, with most enjoying prolonged stays exceeding one year, ensuring stability and reduced vacancy periods. Situated just behind the CBD, the property provides tenants with the unparalleled advantage of a short walk to work.
While two of the flats have been previously modernised with updated kitchens and bathrooms, the third flat presents a golden chance to add value through renovation, potentially enhancing the rental yield. This excellent investment offering in excess of 8% return on income, poised for renovation growth and long-term tenant demand.
Seize this opportunity to start or expand your portfolio in the heart of Otago, where convenience meets consistent returns. 47 Serpentine Ave awaits the astute investor.
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Please contact me for a further discussion or to arrange a viewing appointment once the information has been reviewed.
