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588 & 590 Castle Street North, North Dunedin, Dunedin City

$1,100,000

Quintessential Castle Street - 7.25%

Affectionally named the Fridge and Fridgette, these two 7-bedroom flats, available separately or together (for $1,100,000 each), are part of the varsity ethos and culture, hence every year students line up to secure these for their quintessential flatting experience.

Located at the closest end of Castle Street to the main University Campus, they are so popular with students that they are amongst the first every year to be signed with new tenants for the following year. Both flats have leases already signed for 2025 at $1,540 per week.

Each flat contains two bathrooms, with two hot water cylinders to satisfy the hot water needs of the female tenants, plus generous bedrooms to accommodate all their belongings and large lounge spaces for entertaining friends and passing time between lectures. This is exactly what many students consider their favourite flat with fond memories being made of their year on Castle Street.

The opportunity to own such a strong performing investment asset on Castle Street is available only rarely and the Vendor has considered this one of his best rental investments. It is time for him to pass the asset to the next prudent owner.

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.

Additional details

Type

House

Property ID

9b5b1f92-e03a-89c4-f12f-575824583c7d

Listed on

13/03/2024

Updated

22/05/2024

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North Dunedin, Dunedin City

North Dunedin is a suburb which lies within the Territorial Authority of Dunedin, one of 97 residential suburbs which form the wider region. North Dunedin is the 5th largest suburb of Dunedin in terms of the total number of residential housing stock. North Dunedin 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 1990 - 1999. Residential housing stock in North Dunedin is made up of approximately 68% residential housing and 32% residential investment housing properties.

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