Proven Cash Flow in a Prime Central Location, Now Offers $785,000 Over
Positioned just minutes from the heart of Dunedin, 23 Duncan Street presents an outstanding opportunity to secure a purpose-configured investment property with strong income potential and consistent tenant demand.
The property has a GV of $910,000, adding further appeal for investors seeking value in a central location.
Currently configured as a nine-bedroom boarding house, the property has the potential to generate approximately $95,000 gross rental income per annum when fully occupied. At $785,000, this represents a potential gross yield of approximately 12%, making the numbers particularly compelling for investors seeking strong cash flow.
With a history of long-term tenants and professional management, it offers an attractive option for investors seeking reliable income and future growth.
Property Highlights
• Nine generous bedrooms arranged over three levels
• Potential gross rental income of approximately $95,000 per annum
• Potential gross yield of approximately 12.1% at $785,000+
• GV of $910,000
• Established tenancy history, with several residents having enjoyed long-term occupancy
• Comfortable communal lounge featuring a heat pump and seamless access to a sunny deck overlooking the spacious rear garden
• Functional, well-equipped shared kitchen
• Two shared bathrooms servicing the accommodation
• Ceiling insulation for improved year-round comfort
• Each bedroom includes a wall-mounted heater, microwave and bar fridge, while selected rooms also feature their own hand basin
• Excellent central location within easy walking distance of the Dunedin CBD, University of Otago, public transport, cafes and local amenities
Offering a compelling combination of income, location and value, this is an investment worth serious consideration. The strong potential rental return, established tenant history and central position provide a solid foundation, while the current price point creates an opportunity for investors looking for an attractive entry into Dunedin's income-producing property market.
Whether you're an experienced investor looking to expand your portfolio or considering your first income-focused property, 23 Duncan Street is an opportunity not to be overlooked.
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