This impressive freehold property, "Alva House" presents a rare opportunity to acquire a substantial boarding house with 25 bedrooms in Dunedin's desirable Inner City Residential zone.
Key Features:
Generous Space: This property offers ample living and communal spaces, with an approximate floor area of 780m2 on a 1,573m2 land area.
Abundant Accommodation: With 25 individual bedrooms and 5 bathrooms, this boarding house is well-equipped to accommodate numerous tenants.
Established Income Stream: The property operates on individual boarding house leases.
Gross Rental (EOY 2025): $239,996 including GST
Estimated Net Profit (Projected EOY2026): $163,200 including GST
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Historic Charm with Modern Comforts: Built between 1880 and 1889, the main building features level floors throughout on piles, with a mix of corrugated steel and tile roofing, both appearing in good condition. Heating is provided by heat pumps in the lounge and heaters in individual rooms.
Comprehensive Chattels: The property comes equipped with numerous chattels, including two stoves, two microwaves, a commercial three-door fridge, beds and mattresses for all rooms, wardrobes, and assorted kitchenware.
Strategic Location: Situated on Alva Street, the property is in a well-regarded central Dunedin location.
Managed Property: Property management is handled by a professional property management company. Market for sale plus GST (if any) on a Zero-Rated basis.
