Residential
More from realestate.co.nz:
Agents News

1/29 Spencer Street, Andersons Bay, Dunedin City

Suburban Investment Opportunity- 12 x Unit Block

dollar

Tender

Unit
Unit
Bedroom
16
Bathroom
12
On this page:

Tender

Tuesday
12:00pm
24
Feb

Property details

Listing # RX4840774 | Listed on 30 January

Rare opportunities like this don't come around often.

Held in the same ownership for 22 years, this exceptional investment property delivers circa $236,000 in gross annual income and offers the stability investors seek.

Comprising 12 well-designed units, 8 x one bedroom and 4 x 2 bedroom. The property enjoys low tenancy turnover and a strong base of long-term tenants, attracted by its peaceful atmosphere and sense of community in a quiet suburban street, tucked up a driveway.

Architecturally designed and built in 1975 for the Methodist Mission, the complex was purpose-built for quality living. Today, it continues to attract quiet, respectful tenants, predominantly older residents who value privacy, sunshine, and a calm lifestyle.

Set on a generous 2,822 flat site, the property offers easy access to all units, 9 off-street car parks, and future potential to add more parking if required.

Located in a highly sought-after suburb, this is an investment where one and two bedroom units are always in demand, especially in a quiet, community-focused setting like this.

All units are Healthy Homes compliant and well maintained with excellent natural light throughout.

This is a rare, tightly held asset offering strong returns, proven longevity, and future upside.

Secure a premium investment with income, stability, and long-term appeal and be only the third owner in 50 years.



Please contact the agent to arrange a time to view.



Unless sold prior by private treaty.

Your notes
Add notes for your personal reference. This can only be seen by you.

Additional features

Other park
9 other parks

Schools and childcare in the area

$
$
% p.a.
years
$0 per week
Contact the agent
Name  (required)
Email  (required)
Phone
I'd like to enquire about:
Your message
A young family with pets illustration