Description
This four-bedroom home is one in a complex of five, located in popular North Dunedin, close to transport, shops, supermarkets and the University.
Upstairs offers three generous bedrooms, a separate bathroom containing shower, toilet and vanity, while downstairs has a fourth bedroom, laundry, an additional toilet and open plan living and dining with an adjacent kitchen.
Substantially upgraded in 2019, this home has excellent heating, is well insulated and has an enviable rental occupancy record.
This complex offers stable ownership along with long term investors who are committed to providing quality accommodation to students and who pride themselves in maintaining a high standard of presentation and respect for both students and other owners. The vendor has owned this property for 22 years.
The tenants take great care of the property and are staying on for 2024 with a 10% increase in rent. High quality 4-bedroom student flats are in high demand and short supply so you can expect consistent rent increases each year for the foreseeable future.
Statistics:
Land area: Unit Title Floor area: 102 sqm
Rating Value: $690,000 Land value $310,000 Improvements $380,000 Insured Value: Body corporate dwelling insurance cover for $3,045,000
Bodycorp fees: 1 July 2023 to 30 June 2024: $2426.63
Rates DCC/ORC: $3971.90
Construction: Plaster cladding, timber frame, coloursteel roof, double glazed windows and doors.
Upgrades: Major internal upgrade in 2019 including full internal repaint and new carpets throughout. Major exterior repaint including all walls, roof, balconies fences in 2018
Gross Rental Income 2023: $34,112
Gross Rental Income 2024: $37,536
Compliance:
Code Compliance Certificate from DCC
Healthy Homes compliance
Documentation available:
Certificate of Title
Pre Contract Disclosure Statement Bodycorporate rules
Annual accounts
Chattel List
Healthy Homes Compliance Statement
Ongoing maintenance:
Fortnightly lawn maintenance
Regular garden maintenance
