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Back 404/16 Paterson St
Off Market

404/16 Paterson St

Launceston TAS 7250

2
2
101 m²
Apartment
Last sold for $480,000
Terri ReynoldsTerri Reynolds, last sold this property on 31 October 2025 after 371 days on market.

Overview

Fantastic opportunity presents itself !!

Seize the chance to own a dual-key apartment in the heart of Launceston’s vibrant CBD, situated within a historically significant building. This unique property combines flexibility and income potential, offering the perfect blend of modern city living and financial opportunity. Whether you’re looking for an urban retreat, an investment with high rental yield, or both, this property delivers. Property Overview Nestled on Paterson Street, this fourth-floor apartment boasts stunning views of Launceston’s city lights. The dual-key design offers two separate tenancies, allowing you to live in one unit while renting out the other or enter the serviced apartment market for maximum returns. • Main Apartment: Ideal for long-term living or short-stay rentals, this unit features a separate bedroom, living area, full kitchen, laundry facilities, and a private bathroom. • Studio Apartment: Perfect for short-term stays, this hotel-style unit comes complete with a kitchenette and all the essentials for comfortable living. Key Features • Dual-key layout with two independent tenancies on one title • Prime inner-city location in Launceston’s bustling CBD • Flexible living arrangements: live in one unit and rent the other • Private kitchen, bathroom, and laundry facilities in the main unit • Built-in storage solutions • Convenient elevator and stair access • Walking distance to Launceston’s top restaurants, shops, and attractions Investment Potential This property is a standout for investors or homeowners seeking versatility and returns. Live in one unit while generating income from the other, or capitalize on the thriving short-term rental market. The flexible layout ensures appeal for a variety of tenants, making this a smart addition to any portfolio. Property Details • Council rates: $2,664 p/a (approx.) . Body Corporate fees $1,697.41 (approx.) • Water rates: $912 p/a (approx.) • Building size: 101m² (approx.) • Land size: 101m² (approx.) • Year built: 2006 • Rental estimates: - Main apartment: $390 p/w - Studio apartment: $340 p/w Don’t Miss Out! This is a rare chance to own a dual-key apartment in Launceston’s thriving CBD, combining urban convenience, investment potential, and historical charm. Act quickly to secure your slice of city living today. Key2 Property have obtained all information in the document from sources we believe to be reliable; however, we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations.

Features

2 bedrooms
2 bathrooms
101 m² lot size
Apartment

Estimated Value

Based on this property and similar 2 bedroom apartments sold in Launceston over the last 12 months, the estimated median property value of 404/16 Paterson St is $558k.

Median value
$558k
Estimated value range
$415k - $630k
Median days on market
73
Estimated value trend
-8%
decrease over the last 12 months
Average days on market is based on recent, comparable sales in Launceston. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 404/16 Paterson St

2025
Sold
$480,000
31 Oct 2025 by Terri Reynolds, of Key2 Property
2021
Sold
Undisclosed
01 Dec 2021 by Terri Reynolds, of Living Here Launceston

Happy sellers in Launceston

89%
89% 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 19 reviews in Launceston over the last 12 months.

Local market activity for 2 bedroom apartments in Launceston

In the last 12 months, 5 two-bedroom apartments similar to 404/16 Paterson St, have been sold.

This represents a 100% decrease in two-bedroom apartments sales when compared to the previous 12 months.

Nearby agents

Compare and contact these top performing agents who’ve delivered exception customer service for their clients in Launceston

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Jeremy Wilkinson

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George Bushby

George Bushby is an award winning recommended agent for Launceston.  They have 16 local sales and collected 4 local reviews across the last 12 months.

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David Hernyk

Sellers who recommend David Hernyk have praised them for being clear communication, local expert, responsive, friendly, honest, easy to work with and supportive

  •   4.9   (416 reviews)
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Jessica Hogarth

Jessica Hogarth is a recommended agent for Launceston.  They have 3 local sales and collected 2 local reviews across the last 12 months.

  •   5   (138 reviews)
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