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597 George Street, North Dunedin, Dunedin City

$1,629,000 + Plus GST (if any)

464m²

597m²

Iconic 18-plus room boarding house!

This extensively accommodating 1905 boarding house presents an outstanding investment proposition in a prime location just steps from the University of Otago, Dunedin Hospital, schools, shops, and public transport links. Currently operated as a professionally-managed, fully-occupied rental property, the two-level brick plaster and weatherboard exterior opens to reveal:

- 18 total bedrooms across the expansive layout

- Two standard kitchens plus kitchenette areas

- Mix of concrete, laminate wood, and tongue and groove flooring

- Insulation in ceilings and walls for efficiency

- Electric water heating and woodburner heating sources

- Separate lounge area plus additional living spaces

- Parking for four vehicles with carport

- Partial timber fencing and pergola outdoor area

- Security system with smoke alarms

With its ideal proximity to major amenities, this legacy property is perfectly positioned to provide housing for students, staff, professionals and more. The seller had initially planned redevelopment but is now pursuing other opportunities.

This turn-key boarding house comes well-appointed with an array of chattels throughout the common areas and individual rooms. Enjoy comfortable living spaces with couches, dining tables, bookshelves, and decor pieces creating a homey ambiance. Many bedrooms are equipped with necessities like beds, dressers, mirrors, mini-fridges, and workspaces. The kitchens provide cooking essentials like ovens, fridges, microwaves, and dining sets. Outdoor areas include a garden with seating. From living room entertainment centers to office equipment and beyond, this fully-furnished property is ready for tenant occupancy or your personal touches.

Don't miss this remarkable chance to acquire an income-producing, multi-unit investment loaded with character and upside potential in one of Dunedin's most convenient areas. Call today for a viewing!

Additional details

Type

House

Property ID

4602670

Listed on

06/05/2024

Updated

23/08/2024

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Inner City Investment or Development Opportunity

By Negotiation

558 Great King Street, North Dunedin

Property data

Broadband available

Floor area

464m²

Land area

597m²

Type of title

Freehold

About the area

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Time (yrs)

5 yrs

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Flooring

Total estimated cost is flooring

$26,767.65

This estimate is fully inclusive of carpet, underlay, accessories and installation but excludes travel and floor preparation, if required.

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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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