22A & 22B Richardson Street, Saint Kilda, Otago

Positioned on a 464m2(approx.) corner site, currently zoned Residential 2 under the 2GP, this property offers a multitude of possibilities. Divided into two separate flats, both currently under periodic tenancies, this residence has undergone significant improvements by its overseas owners, who have now made the decision to divest.

22A Richardson Street presents a mostly double glazed 1 bedroom, 1 bathroom flat, complete with a separate living area, currently occupied by a long-term tenant paying $260 per week (scheduled to increase to $300 on 21/11/23). Meanwhile, 22B Richardson Street offers a spacious 2 bedroom, 1 bathroom flat, currently leased at $340 per week which has also had significant double glazing.

This property caters to a wide range of buyers:

- Savvy investors will appreciate the opportunity to continue what the Vendor's have started, with further enhancements/renovations, increasing rental income and the overall return.

- Seeking a property with an income stream? This could be your answer, live in one while renting the other.

- Forward thinkers with an eye on the future may consider this as a strategic addition to their land banking portfolio, anticipating potential development opportunities (subject to Council approval).

Our instructions are clear, this property is genuinely on the market, so don't miss the chance to explore this promising investment on the weekend.