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853 George Street, Dunedin Central, Dunedin City

$729,000

5

1

151m²

327m²

BLUE CHIP LOCATION

This centrally located investment opportunity contains a spacious, double-glazed, open plan kitchen / living area, three big bedrooms and two medium-sized, one bathroom plus a separate toilet / laundry area and a nice sunny courtyard out back.

Currently rented at $825 per week, there is an obvious play here that would bring the rent up to excess of $1290 per week:

• The 327m2 site allows for up to 7 bedrooms without a resource consent and there used to be a toilet in the shed out back. Seems like a no brainer to covert that shed into a nice 6th bedroom.

• Convert the toilet/ laundry into another bathroom

• Finish off the double glazing

• General upgrade of the interior - new kitchen, carpet, paint etc.

Owners of student flats across New Zealand are about to enter a very profitable phase as birthrates indicate that universities will see an unusually high intake of students for the rest of the decade which will drive rents up.

Now is as good a time as ever to capitalise on the growing demand for student housing in New Zealand and you certainly can't go wrong buying a property in a blue-chip location that has scope for considerable capital gains.

Additional details

Type

House

Property ID

L33912522

Listed on

17/04/2025

Updated

22/04/2025

Property insights

OneRoof estimateRating valuationProperty history

Rating valuation

OneRoof mentions

Listed for sale on OneRoof for 57 days (last updated on 17 April) and was last sold in 2020 for $565,000. Its latest rating valuation by Dunedin City council is $700,000 as of 2022. There are 19 5-bedroom properties for sale nearby. There are 39 properties for sale in Dunedin Central.

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Property data

Broadband available

Floor area

151m²

Land area

327m²

Type of title

Freehold

About the area

Market insights

Insights for all bedroom homes in Dunedin Central

Property type

All property types

Bedrooms

All

Time (yrs)

5 yrs

Median sales price

$670K

Capital growth

0.08%

3.08%5 yrs change

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Dunedin Central, Dunedin City

Dunedin Central is a suburb which lies within the Territorial Authority of Dunedin, one of 97 residential suburbs which form the wider region. Dunedin Central is the 3rd largest suburb of Dunedin in terms of the total number of residential housing stock. Dunedin Central 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 1900 - 1909. Residential housing stock in Dunedin Central is made up of approximately 78% residential housing and 22% residential investment housing properties.

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