Back 425 Elizabeth Street
Off Market

425 Elizabeth Street

North Hobart TAS 7000

3
3
151 m²
659 m²
House
Last sold for $985,000
Nyal MerdivenciNyal Merdivenci, last sold this property on 01 April 2026 after 76 days on market.

Overview

Where Timeless Architecture Meets Turn-Key Income

425 Elizabeth Street is a beautifully preserved 1944 Federation Bungalow, offering a rare blend of timeless character and high-performing investment potential. Now smartly converted into three self-contained units, this unique property delivers an impressive combined weekly rental of $1,080, with three quality tenants already in place. That equates to a turn-key investment returning over 5.5% per annum, an exceptional return for a tightly held blue-chip Hobart location with excellent long-term capital growth potential. Uniquely, the property also offers the flexibility for an owner-occupier to live in one unit while the remaining two provide a reliable income stream right in your own backyard! Beyond the numbers, the building's classic Federation detailing and generous proportions create strong long-term tenant appeal and excellent future resale flexibility, whether held as a high-yielding asset or repositioned down the track. Perfectly located just minutes from the Hobart CBD and the vibrant North Hobart restaurant and café strip, with easy accesses to public transport. The property enjoys constant rental demand driven by lifestyle convenience, walkability and proximity to key employment hubs. A rare opportunity to secure character, cashflow and capital growth in one of Hobart's most reliable investment corridors.

Features

3 bedrooms
3 bathrooms
151 m² floor area
659 m² lot size
House

Estimated Value

Based on this property and similar 3 bedroom houses sold in North Hobart over the last 12 months, the estimated median property value of 425 Elizabeth Street is $853k.

Median value
$853k
Estimated value range
$590k - $1.4m
Median days on market
31
Estimated value trend
-2%
decrease over the last 12 months
Average days on market is based on recent, comparable sales in North Hobart. 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 425 Elizabeth Street

2026
Sold
$985,000
01 Apr 2026 by Nyal Merdivenci, of EIS Property Hobart
2021
Sold
$816,000
10 Jan 2021 by Julian Stepik, of PRD Hobart

Happy sellers in North Hobart

80%
80% of sellers in North Hobart reported that their sale price either exceeded or met their price expectations.

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

This is based on voluntary sentiment collected from 8 reviews in North Hobart over the last 12 months.

Local market activity for 3 bedroom houses in North Hobart

In the last 12 months, 17 three-bedroom houses similar to 425 Elizabeth Street, have been sold.

This represents a 12% decrease in three-bedroom houses sales when compared to the previous 12 months.

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