482 Hillside Road,
PBN over $379,000
* 120m²=1,292 sq.ft. 579m²=6,232 sq.ft. (0.06 Ha)
DUPLEX VALUE-ADD OPPORTUNITY! $379,000+
Looking for a dual investment? Or home and income? Complete the sunny rear flat and you'll enjoy modern, warm, sunny living - with a sun-drenched, newly fenced back yard that's ideal for family play and entertaining.
In a nutshell, this is an approved duplex - a building divided into 2 flats. Furniture is included in flat A which is tenanted, and displayed hardware included in flat B.
The front part (flat A) of the original house is currently rented to a very good long term tenant.
The rear part (flat B) was about to undergo a major renovation with council approved plans and a building consent in place. The owners circumstances have changed so this is for sale 'as is where is' - with the plans and consents. So a great opportunity for the savvy buyer with a 'can do' attitude.
Options include: (a) long term rent both (b) live in B and continue renting out A (c) rent out A and short term accommodation flat B as this option has also been council approved (d) convert the property back to one house (change plans and amend consent) (e) clear the site and build a block of flats, likely three units. Apparently you may be able to add another dwelling in the rear yard, subject to council approval. If you decide on options a, b or c then a firewall is required between A and B and on the east wall (neighbouring dwelling).
Fully fenced with a nice, flat, sunny north facing rear yard. Great location on the corner of tree-lined Baker Street with lots of shops and services, and only a short commute to the Esplanade, South Dunedin shopping centre or the CBD. ANZ is now offering 12 month fixed rates at 2.79% and ASB 2.69% for a 2 year fixed rate; LVR restrictions have been removed, so this is a great time to buy.
For extensive property information go to: https://www.lawrencepeeters.co.nz/current-listings
KEY DETAILS: *CV: $375,000 (01/07/19) *DCC Rates: $3,473.40 (multi-unit) *Floor area: 120m2 *Land Area: 579m2 (Freehold)