- $4,615 per week - $240,000 pa (current)
- $5,500 per week - $286,000 pa (potential)
- 13% - 15% Yield
- 25 Bedrooms, 5 Bathrooms
- 780m² Floor area
- 1,573m² Freehold Corner-Site
- Inner City Residential Zone
- Healthy Homes Compliant
- Professionally managed
- Rates: $10,719 pa
- Cashflow Positive $2,000 per week - based on 100% borrowing and after expenses*
Why this property
- Cashflow positive approximately $2,000 per week after all expenses
- 25 bedrooms on 1,573m² freehold corner site - substantial strategic asset
- Professionally managed - true passive income
- Upside to $5,500 per week with rent increases
- Inner City Residential zone - close to CBD, restaurants, schools, supermarkets
- Healthy Homes compliant - potential to add further value
Rent upside
Current income of $4,615 per week has upside to $5,500 per week with market rent increases - representing a potential increase in gross yield to 15%+.
About this property
A high-performing 25-bedroom inner-city Dunedin investment generating $4,615 per week with upside to $5,500 per week. Returning 13-15% on a 1,573m² freehold corner site, this strategic asset offers significant cashflow and value-add potential.
Built between 1880 and 1889, the main building features level floors throughout on piles, with a mix of corrugated steel and tile roofing in good condition. Heating is provided by heat pumps in the lounge and heaters in individual rooms. With 25 individual bedrooms and 5 bathrooms, this boarding house is well-equipped to accommodate numerous tenants.
Property management is handled by a professional property management company, making this a truly passive income asset. A rare opportunity to acquire a substantial boarding house in Dunedin's desirable Inner City Residential zone.
Financial summary
| Purchase price | By negotiation |
| Current weekly income | $4,615 pw |
| Current annual income | $240,000 pa |
| Current gross yield | 13% |
| Potential weekly income | $5,500 pw |
| Potential annual income | $286,000 pa |
| Potential yield | 15%+ |
| Bedrooms | 25 |
| Bathrooms | 5 |
| Floor area | 780m² |
| Land area | 1,573m² corner site |
| Rates | $10,719 pa |
| Cashflow positive | $2,000 pw |
Property details
About Dunedin inner city
Located in Dunedin's inner city residential zone, this property benefits from proximity to the CBD, restaurants, bars, schools, supermarkets, and shopping. Dunedin's large student population from the University of Otago drives exceptional demand for boarding house and shared accommodation.
Inner city residential zoning with a freehold corner site provides strategic long-term land value in addition to the exceptional cashflow this asset delivers today.