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31 Cranston Street, Andersons Bay, Dunedin City

$1,345,000 + GST (if any)

1,285m²

High Cashflow Boarding House

The former rest home has been transformed into a highly functional boarding house with comfortable rooms, wide hallways, a large living area with abundant sunshine and plentiful off-street parking. The Andersons Bay suburb is a quiet area, with the surrounding neighbours mainly owner-occupied properties.

This significant and very tidy property operates 17 bedrooms for the main part of the boarding house and a separate 2-bedroom flat upstairs offers additional rental income or could potentially be used as a manager's residence.

Three wet floor bathrooms and two separate toilets from the rest home era are functional facilities for the 17 downstairs bedrooms. Three bedrooms have their own ensuite toilets and another six contain their own bathroom vanities within the room. The upstairs flat utilises its own large kitchen, open living area and full modern bathroom to offer a true self contained flat, with the option of internal access to the boarding house if desired. External access is otherwise to the rear via a private deck.

At full occupancy, the property delivers approximately $3,550 per week. This well managed operation has enjoyed over 90% occupancy over the past 12 months, as good boarding house operations like this are in high demand from good tenants.

Asking Price: $1,345,000 + GST (if any)

Photos are from prior marketing, however, are a likeness of the exiting condition of the property.

Please contact me for a further discussion or enquire to receive our Information Memorandum containing floorplans, 3D Virtual Tours and full property disclosure on costs and operational matters.

Viewings by appointment once the information has been reviewed.

Additional details

Type

House

Property ID

6178de06-4596-47f5-8887-1ba799e6200c

Listed on

22/08/2024

Updated

22/08/2024

Data

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OneRoof estimateRating valuationEstimate over timeProperty history

OneRoof estimate

Property data

Broadband available

Floor area

520m²

Land area

1,285m²

Type of title

Freehold

About the area

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Time (yrs)

5 yrs

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Andersons Bay, Dunedin City

Andersons Bay is a suburb which lies within the Territorial Authority of Dunedin, one of 97 residential suburbs which form the wider region. Andersons Bay is the 9th largest suburb of Dunedin in terms of the total number of residential housing stock. Andersons Bay provides a range of housing stock, with the earliest residential housing recorded in the area constructed between 1880 - 1889. The majority of the residential housing stock in the locality was constructed between 1920 - 1929. Residential housing stock in Andersons Bay is made up of approximately 97% residential housing , 2% residential investment housing and 1% lifestyle properties.

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