Offering a rare combination of flexibility, location and income potential, 159 Wellington Street comprises two fully self-contained, fully furnished apartments on one title. Each apartment has its own kitchen, bathroom and laundry facilities, making this an ideal opportunity for investors, owner-occupiers or those looking for a property that can adapt to changing needs.
Both apartments have been thoughtfully updated and are currently leased fully furnished, providing an immediate income stream. The configuration also offers genuine flexibility - live in one and rent the other, lease both separately, or use the property for extended family, guests or a combination of living and investment.
159A is a neat one-bedroom apartment with built-in storage, a modern kitchen and renovated bathroom with combined laundry facilities. It also benefits from its own off-street parking space at the rear, reverse-cycle heating and cooling, NBN connectivity and plenty of storage.
Upstairs, 159B offers a similar one-bedroom layout with a modern kitchen and renovated bathroom, along with a European-style laundry within the kitchen. An additional loft space provides valuable extra storage or flexible use, while reverse-cycle heating and cooling, NBN and its own rear parking space add to the practicality.
Positioned directly opposite Coles, the location is exceptionally convenient, with the Launceston General Hospital, CBD, public transport and everyday amenities all within easy walking distance. Whether you're looking for a straightforward investment, a city base with an income-producing second residence, or simply a property with options, this is an opportunity worth considering.
Currently returning a combined $680 per week, with 159B leased at $330 per week until 19 March 2027 and 159A leased at $350 per week until 27 November 2026. A rental appraisal of up to $800 per week provides further potential for future income growth.
Two apartments. One title. Multiple ways to make it work.
159A Lease Details - $350 per week until 27/11/2026
159B Lease Details - $330 per week until 19/03/2027
Proposed Current Market Rental Appraisal:
159A Wellington Street - $400 per week
159B Wellington Street - $400 per week
Outgoings:
Council Rates: $3,649.86 per annum
Strata Fees: $695.90 per quarter, including building insurance
Building Size - 159A Wellington Street - 68m2
Building Size - 159B Wellington Street - 90m2
Land Size: 165m2
Year Built: 1900
Council: City of Launceston
