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303/16 Paterson Street

Launceston TAS 7250

2
2
94 m²
Apartment
Currently for sale - view listing

Overview

Two Apartments. One Title. $460,000.

Where else can you secure two fully self-contained CBD apartments on one title for just $460,000-already leased and producing an immediate income? Positioned high on Level 3 of Central Apartments, 303/16 Paterson Street offers a rare dual-key investment comprising a spacious one-bedroom apartment plus a completely separate hotel-style studio. Both apartments feature their own kitchen facilities, private bathroom and comfortable living accommodation, creating two distinct income-producing spaces within one exceptionally versatile property. Currently operating as serviced accommodation under a lease extending until 2027, the property offers investors immediate income without the usual day-to-day demands of managing tenants, cleaning, bookings or individual vacancies. With an approximate gross annual income of $34,513 and an approximate net annual income of $23,443, this is an opportunity where the figures-and the value-deserve serious attention. The Investment at a Glance • Two fully self-contained apartments on one title • Spacious one-bedroom apartment plus separate studio • Asking price of just $460,000 • Approximate gross annual income: $34,513 • Approximate net annual income: $23,443 • Approximate gross yield: 7.50% • Approximate net yield: 5.10% • Serviced apartment lease currently in place until 2027 • Established income from the day of settlement • No day-to-day tenant or booking management • Elevated Level 3 position with sweeping Launceston views • Secure complex with lift and stair access • Outstanding walk-everywhere CBD location The generous main apartment includes a separate bedroom, open-plan kitchen and dining area, built-in laundry facilities, excellent storage and a bathroom with shower over bath. The adjoining studio provides its own private bathroom and kitchenette, making it ideal for short-stay serviced accommodation. Step outside and Launceston's cafés, restaurants, shopping, entertainment and business precinct are all within easy walking distance. For investors seeking immediate income, two accommodation spaces and genuine CBD value, this property is difficult to overlook. Two apartments. Two income-producing spaces. One title-and one very compelling price. Contact Terri Reynolds today to arrange an inspection.

Features

2 bedrooms
2 bathrooms
94 m² floor area
Apartment

Happy sellers in Launceston

90%
90% of sellers in Launceston reported that their sale price either exceeded or met their price expectations.

Launceston stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 17 reviews in Launceston over the last 12 months.

Local market activity for 2 bedroom apartments in Launceston

In the last 12 months, 6 two-bedroom apartments similar to 303/16 Paterson Street, have been sold.

This represents a 200% decrease in two-bedroom apartments sales when compared to the previous 12 months.

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