Strategically positioned, this tidy four-bedroom student flat represents an entry-level opportunity for investors or those looking to expand a student portfolio. Located just above the Medical Precinct of the University of Otago, this location offers permanent demand and long-term security.
Core Financials & Compliance:
- Current Rent: $640 per week.
- Upside Potential: Currently positioned at entry-level rates, there is significant scope for rent increases in the next review cycle to align with current market levels.
- Healthy Homes: Fully compliant.
- Due Diligence: A full suite of documentation is available, including Building, LIM, Electrical, and Healthy Homes reports, ensuring a transparent and straightforward purchase.
With the Vendor undertaking recent maintenance, the property is set for student living with a focus on warmth and durability:
- Heating: Three heat pumps provide efficient climate control throughout the home.
- Ventilation: A ventilation system ensures a dry, healthy environment year-round.
- Compliance: Electrical wiring has been recently upgraded and certified where required.
The University of Otago has seen a significant surge in enrolment, with numbers up by approximately 1,000 students this year alone. This continued growth places immense pressure on the local rental market, particularly for properties within this immediate radius.
1 Drummond Street sits at the doorstep of the Dental and Medical Schools and just above the main shopping high street of Dunedin. This proximity makes it a perennial favourite for students who prioritize being within walking distance of both the city and campus.
Act now to secure an entry-level foothold in Dunedin's most resilient investment sector.
Send an online enquiry to receive a full Matt Morton & Co Information Memorandum and additional property documentation.
Please contact me for a further discussion or to arrange a viewing appointment once the information has been reviewed.
