74 Heriot Row, North Dunedin, Dunedin City

This large, three flat property has been a consistent high cash flow performer and is now ready for the next phase in its life. The three flats consist of a 5-bedroom, a 4-bedroom and a 2-bedroom flat and are signed for 2026 on fixed tenancies and already secured and signed for 2027 for a total of $2,075 per week; that’s a 10.8% gross return against the asking price. Tenants arrange their own utilities in their respective flatting groups, so only rates, insurance and maintenance for the landlord costs. Refurbishments to the property could lift the rent further in future years to maximize potential returns. Work is needed to the exterior of the building, but this project could yield excellent gains and returns for the experienced investor. Sitting high above the University campus, the views are spectacular and allows the new owner to create something special. An upgrade plan would allow for further rent growth, or conversely with no heritage elements on the property, the site could be developed into new units similar to the neighbouring properties. Send an online enquiry to receive a full Matt Morton & Co Information Memorandum and additional property documentation.Please contact me for a further discussion or to arrange a viewing appointment once the information has been reviewed.