High-yield investment!

Positioned in a peaceful, elevated location just a short walk from the University of Otago and city centre, this substantial multi-level property offers an exceptional investment opportunity. Currently configured as an 11-bedroom, 2-bathroom boarding house, however for 2026 it is signed up to a group of students as a 10-bedroom flat at $2,000 per week - representing a gross return of over 10%.

The property is ideal for tenants seeking a quieter lifestyle, the home enjoys a sunny rear deck perfect for morning sun and relaxation. The eleven well-proportioned bedrooms (one designated as a lounge for 2026) are spread over three levels, with several generously sized options. A spacious, functional kitchen provides excellent storage, and a convenient upper-level kitchenette adds further flexibility with a benchtop, sink, and space for an under-bench fridge.

Two separate bathrooms, two additional toilets, and dedicated laundry facilities (including a washing machine and dryer) ensure practicality for group living.

The current owners have carried out thoughtful improvements over time, including the installation of double glazing and a new roof - enhancing both comfort and peace of mind for future owners.

Whether you're looking to expand your portfolio or secure a high-performing passive income stream, this well-located, high-yielding property is a must-see.