685 George Street, North Dunedin, Dunedin City, Otago
Dunedin, New Zealand
Guide Price
$710,500
1,225,000 NZD
PROPERTY TYPE
house
BEDROOMS
10
BATHROOMS
3
Description
Opportunities of this scale and calibre on George Street are increasingly rare, and this substantial 10-bedroom rental investment stands proudly as a standout performer. Perfectly positioned just moments from the University, this iconic property delivers a strong annual return of $104,000 pa, underpinned by consistently high tenant demand. Its proximity to campus, the city centre, and key
amenities ensures ongoing appeal to the student and rental market year after year. Behind the striking façade lies an expansive floor plan spread across multiple levels, offering generous communal spaces, numerous bathrooms, and a configuration ideally suited to large-scale residential letting. The sheer volume of space on offer is a rare find, providing both functional living and flexibility for future enhancement. Character lovers will appreciate the wealth of original
features throughout — from soaring ceilings, ornate plasterwork and timber detailing, to leadlight windows and architectural flourishes that speak to a bygone era. Whether you’re a seasoned investor looking to secure a blue-chip addition to your portfolio, or seeking a high-yield asset in a proven location, this is an offering that ticks all the right boxes: scale, income, character, and an irreplaceable George Street address. A true Dunedin classic with clear instructions to sell!
Location
Open in Google MapsLiving in Dunedin
Morning surf before work, weekends tramping through Lord-of-the-Rings landscapes, and a laid-back culture where shoes are optional and nature is never more than ten minutes away.
Visa
Skilled Migrant Category Resident Visa — points-based system requiring a skilled job offer in NZ. New pathways opening August 2026 for trades workers and those with 5+ years experience. Accredited Employer Work Visa is the faster route if you already have a job offer.
Learn more: The Complete Guide to Moving to New Zealand→Key Fact
NZ has strict biosecurity laws — importing food, plants, or outdoor gear can result in heavy fines. The work-life balance is exceptional, but the job market is small and remote from everywhere.
Learn more: What You Need to Know Before Moving Abroad→New Zealand at a glance
How New Zealand scores for American expats
Cost of buying in New Zealand
Estimated fees and ongoing costs for this property
Closing Costs
3-5% of purchase price
- ·No stamp duty
- ·Legal/conveyancing: NZ$1,500-3,000
- ·Building inspection: NZ$500-800
- ·LIM report: NZ$300-400
Annual Costs
Property Tax
0.3-1.5% of government valuation (varies by council)
Insurance
NZ$1,500-3,000/yr
HOA / Condo Fees
NZ$300-600/mo for apartments (body corporate)
Good to Know
Agent Fees
Seller pays (2.5-4%)
Foreign Buyer Note
Foreign buyers BANNED from existing homes (2018 ban). Can only buy new-build apartments in large developments.
Legal help in New Zealand
Hire your own attorney — not the seller's. We'll match you with a vetted local lawyer.
Need a local attorney in New Zealand?
We'll connect you with an independent, English-speaking real estate attorney experienced with foreign buyers. Not the seller's lawyer — yours.
Contact Agent
Jason Hynes - Wayne Graham Realty Ltd (Licensed: REAA 2008) - LJ Hooker, Dunedin
Next steps for moving to New Zealand
Interested in this property? Here's how to move forward.
Understand the buying rules
Foreign ownership laws vary wildly by country. Some welcome you, others restrict or ban foreign buyers entirely.
Sort out your visa
Owning property doesn't give you the right to live there. Research residency options before you buy.
Plan your finances
Understand currency risk, international wire transfers, and whether you can get a local mortgage.
Know your tax obligations
US citizens are taxed on worldwide income. You'll need to file US taxes from abroad and may owe local taxes too.
Set up healthcare
Medicare doesn't cover you overseas. You'll need international health insurance or a local plan.
Run the full checklist
Banking, mail forwarding, power of attorney, pet import rules — the complete pre-move checklist.
realestate.co.nz
NZD


