Royal Terrace is one of Dunedin's most sought after addresses. The charming street is filled with stunning character properties such as Olveston and is so centrally located. The close proximity to the city's CBD, hospital & university campus, adds to the attraction of this elegant, blue chip precinct. This huge double bay villa is divided into three parts. Comprising a four bedroom/three bathroom flat, a standalone unit to the rear of the property, and an ample two bedroom flat at the front of the house. A sweeping verandah, city & harbour views and a secure garage complete this excellent hand. A smart renovation on the front unit has just been completed. This offering is of such a standard that it would suit either a future owner-occupier seeking a supplementary income or an astute investor who recognises the upside of this stunning location. Reap the rewards of someone else's work. Over the past decade the current owners have made continual improvements to the property - upgrading bathrooms & kitchens, adding two ensuites, installing 5 heatpumps and converting two of the units to gas hot water. As a result the property has an impeccable rental history. The owners have enjoyed owning such a special heritage property but they have decided to let go of this Ace card in order to pursue other projects. Take this opportunity to lock in a great rental income of $1,350 per week and rest easy in your retirement knowing that you have been dealt such a good hand. This Royal flush is guaranteed to give you an excellent return on your investment.