FOR SALE
Best Offer Over $949,000

85 Chris Street
Prospect Vale TAS 7250

Bedrooms: 4
Bathrooms: 4
Car spaces: 4
Floor area: 196m2
Land area: 948m2
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Investment Opportunity - Four Unit Property with Strong Returns!

This exceptional four-unit Prospect Vale property, set on a generous 948m² block, is perfect for investors seeking a high-performing asset or a flexible multi-generational living arrangement.
Each Unit Features:
• 1 spacious bedroom
• 1 practical bathroom/combined laundry
• Open-plan kitchen, Living and Dining area
• A single carport for each unit, ensuring convenience for tenants
• Rear fenced courtyard areas
With all units on the same title, this hassle-free investment offers the added benefit of no body corporate fees, making it a smooth and stress-free addition to your portfolio. The property is fully leased to excellent tenants, providing a strong return of over 6%, making it a fantastic income-generating opportunity.
Brick built, in fantastic condition both inside and out with no outstanding maintenance inside or out that we are aware of. Little to no on-going upkeep for years to come makes this a set and forget investment.
Located in a thriving suburb close to parks, shopping, dining, and top schools, the units are easy to find tenants for and have a very low vacancy rate if at all. Whether you're looking to rent all units or occupy one while leasing the others, this versatile property provides options.
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Property Details for 85 Chris St, Prospect Vale

85 Chris St, Prospect Vale is a 4 bedroom, 4 bathroom BlockOfUnits with 4 parking spaces. The property has a land size of 948m2 and floor size of 196m2. The place is currently for sale with Harcourts Launceston.

Building Type
BlockOfUnits
Floor Size
196m2
Land Size
948m2

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About Prospect Vale 7250

The size of Prospect Vale is approximately 10 square kilometres. It has 16 parks covering nearly 10.6% of total area. The population of Prospect Vale in 2011 was 5,020 people. By 2016 the population was 5,067 showing a population growth of 0.9% in the area during that time. The predominant age group in Prospect Vale is 50-59 years. Households in Prospect Vale are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Prospect Vale work in a clerical occupation. In 2011, 72.9% of the homes in Prospect Vale were owner-occupied compared with 70.9% in 2016.

Prospect Vale has 2,908 properties. Over the last 5 years, Houses in Prospect Vale have seen a 60.26% increase in median value, while Units have seen a 46.07% increase. As at 31 October 2024:

  • The median value for Houses in Prospect Vale is $636,755 while the median value for Units is $401,654.
  • Houses have a median rent of $500 while Units have a median rent of $420.
There are currently 17 properties listed for sale, and 2 properties listed for rent in Prospect vale on OnTheHouse. According to CoreLogic's data, 106 properties were sold in the past 12 months in Prospect vale.

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David Hernyk
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Claire Coleman
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Harcourts Launceston
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