A tried and tested rental investment that has achieved everything the owners have needed and could now be your little gem.
Due to larger development projects coming up this property has now been outgrown by the current owners. There are two tidy, older decor, improved insulation, properties side by side on separate titles. They have been well rented for a number of years and currently both have tenancies that have just re-signed for a further term through to Dunedin’s peak January/February renting season including small increases mid-year.
Two double bedrooms in each with a good sized living room including heat pumps in both also. 37 has a slightly larger kitchen dining area and onto a large bathroom with laundry. 39 has a smaller kitchen without the dining space and again the laundry facilities are in the bathroom. Add two small fenced yards and this has rented really well for years and is ready for the next landlord to oversee them.
Current rates $2921.34pa, regional rates $105.01pa, current insurance is with AON at $1268.01 for the two properties.
Rent is approx $24,000pa, asking approx 8.6% return, both properties together at neg over $280,000.
Video is rental tour of 39, haven't got a tour of 37 sorry.