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60 Tidewater Drive, Portobello, Dunedin City

Buyers $1,060,000+

5

3

200m²

809m²

Otago Peninsula beckons

* An exceptional lifestyle investment with immediate income potential.

* Proven income figure available of $80,000 for 9 months from 1 Jan 2026, with full report available.

* 70.7% occupancy over these 9 months from 1 Jan 2026 until 30 September 2026

Invest in bricks and mortar and enjoy a regular return on your money with this exceptional waterfront property on the Otago Peninsula. This modern and sleek, 2023 build is fully equipped and comes complete with all furniture in both luxury apartments. It offers the perfect blend of hassle-free income and a peaceful lifestyle in one of New Zealand’s most breathtaking coastal locations.

Smart Investment with Proven Returns

Put your capital into solid property while generating ongoing income. This property is currently operating as a functional and successful Airbnb with an established reputation in the local tourism industry. Reports are available on request to verify the current returns after several successful months of operation and indeed, there is room for growth that the next owner can capitalize on.

Perfect semi-retirement lifestyle

Escape the rat race and enjoy a quiet existence right here in this pristine and everchanging environment. Multiple options exist for the new owner to suit their needs:

• Appoint a professional manager and simply collect the income

• Manage it yourself and live comfortably in the rear manager’s apartment and rent out the two apartments

• Reside in the spacious top apartment and Airbnb the bottom apartment plus the manager’s apartment for maximum returns – this way you get to enjoy all those stunning views across the inlet and beyond to the hills

• Buy this home and have a multi-generational home with kids and grand parents all living onsite.

Whichever way you choose, this property delivers both lifestyle and financially-enticing options for the owners future.

Unbeatable location – gateway to Otago Peninsula wonders

Nestled in the tranquil sanctuary of Harwood, Portobello, this is your private gateway to the rich scenic beauty and natural history delights of the greater Otago Peninsula. Think stunning waterfront views, coastal walks, wildlife encounters (including penguins, seals and albatross), numerous beaches, historic sites, and endless outdoor adventures — all on your doorstep. Quiet, private, and surrounded by nature, yet only a short 30 minute drive time from Dunedin’s vibrant city centre. Dunedin, the “Edinburgh of the South” is a magnet for those who love all that historic Edwardian and Victorian architecture, the huge array of cafes, restaurants, galleries and of course, the plethora of public services that come with a major city.

Modern, comfortable and fully turn-key

Everything is brand new, stylish, and ready to go. The building is comfortable, contemporary, and includes all furnishings and equipment across the two apartments - just move in or start earning immediately from afar.

This is a rare opportunity to own a versatile, income-producing waterfront retreat in one of Dunedin’s most sought-after coastal enclaves.

How do the figures look?

Top apartment rate per night: $320

Bottom Apartment rate per night: $280

Kakianau Retreat has commenced operation as a short term holiday business in mid-June 2025 and as such has not had a full year of operation. The four months November 2025 to February 2026 has seen occupancy of 82% and a gross return in this quarter of $39,531.

This business is in its infancy and can be developed and grown. My vendor has moved to Australia and is looking to liquidate assets in New Zealand. Kakianau is currently managed by an onsite manager.

Registration of interest invited:

Secure your future in bricks and mortar with lifestyle and income thrown in. Don’t miss out - contact me for a private viewing to see this exceptional property for yourself.

Additional details

Type

House

Property ID

MGU201312

Listed on

05/03/2026

Updated

5 hours ago

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Listed for sale on OneRoof for 232 days (last updated on 5 March) and was last sold in 2020 for $136,000. OneRoof now estimates this property to be $805,000 and its latest rating valuation by Dunedin City council is $740,000 as of 2025. There are 4 properties for sale in Portobello.

Property data

On OneRoof

231 days

Property Type

House

Floor Area

146m²

Land Area

809m²

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Portobello, Dunedin City

Portobello is a suburb which lies within the Territorial Authority of Dunedin, one of 97 residential suburbs which form the wider region. Portobello is the 53rd largest suburb of Dunedin in terms of the total number of residential housing stock. Portobello provides a range of housing stock, with the earliest residential housing recorded in the area constructed between 1880 - 1889. The majority of the residential housing stock in the locality was constructed between 2000 - 2009. Residential housing stock in Portobello is made up of approximately 89% residential housing , 1% residential investment housing and 10% lifestyle properties.

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