Quintessential Student Add-value Investment
The concept of waking up late and stumbling one block to lectures is one of the most appealing factors to young students. Coupled with the quintessential student flat of five bedrooms, central hallway, open kitchen / living to the rear warmed up by a heat pump, while meeting all healthy homes standards - this property is mainstream investing in this coveted market.
With rent currently at $925 per week for 2025 and a secured tenancy in place for 2026 at $975 per week, the property is below average market rental levels on a per room basis. The flat is poised for an add-value makeover that would see the property at a higher rental level. Internal paint and flooring upgrades would have a dramatic effect, and altering some cabinetry in the bathroom and additional pantry space in the kitchen would really appeal to the tenants.
The roof appears in good condition visually and has been replaced at some time in the past, while the cladding would benefit from some remediation in isolated spots. Being a single level property will lessen the requirement for scaffolding to work on the building, which is often seen as advantageous to keeping work costs under control. A recent Electrical Report and Healthy Homes Report show the property to be compliant with their relative standards.
Obvious value add properties in this close location to the University of Otago are highly sought after and not often available on market. Move quickly to secure your next investment gem.
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Please contact me for a further discussion or to arrange a viewing appointment once the information has been reviewed.