302/16 Paterson StreetLaunceston TAS 7250
Property Details for 302/16 Paterson St, Launceston
302/16 Paterson St, Launceston is a 2 bedroom, 2 bathroom Unit and was built in 2006. The property has a land size of 88m2 and floor size of 88m2. While the property is not currently for sale or for rent, it was last sold in June 2019.
Last Listing description (July 2019)
With carpet, paint, bathroom grout/ caulking completed in 2016, this spacious 2 bedroom apartment offers large living in the heart of town.
With high ceilings, full kitchen and ensuite and beautiful aspects from the bedroom windows, all only a short stroll to restaurants, cafes, and shopping.
Apartment is approximately 88 m2 internal living.
Lease Details
Current Rent: $646 per week ($33,630 per annum)
Rent Increasing: 1st July 2019
Rent as of July : $672 per week ($34,975 per annum)
Current Return: 7.72% Gross- 6.64% Net
RETURN JULY 19: 8.03% Gross- 6.95% NET
Lease Terms: Lease to 30/06/2021 plus 5 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2021)
RENT RETURN SCHEDULE:
July 2019 : 8.03% gross
July 2020: 8.35% gross
With its fresh organic produce, world renowned brewery and wines and relaxed lifestyle, Tasmania has become the new hot spot for mainlander's seeking high yield opportunities.
Located in the heart of Launceston city, within the restaurant precinct, city mall and tourist information centre, and only minutes to Cataract Gorge, Boags Brewery & River Cruise- the position speaks for itself!
Approximate Owner Outgoings:
Council Rates: $2777.00 per annum
Water Rates: $736 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund : $1168 p/a
Property History for 302/16 Paterson St, Launceston, TAS 7250
- 13 Jun 2019Sold for $426,500
- 01 Apr 2019Listed for Sale Not Disclosed
- 15 May 2014Sold for $390,000
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About Launceston 7250
The size of Launceston is approximately 4.5 square kilometres. It has 13 parks covering nearly 16.4% of total area. The population of Launceston in 2011 was 2,897 people. By 2016 the population was 2,929 showing a population growth of 1.1% in the area during that time. The predominant age group in Launceston is 20-29 years. Households in Launceston are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Launceston work in a professional occupation. In 2011, 47% of the homes in Launceston were owner-occupied compared with 48.2% in 2016.
Launceston has 3,720 properties. Over the last 5 years, Houses in Launceston have seen a 53.73% increase in median value, while Units have seen a 42.25% increase. As at 31 October 2024:
- The median value for Houses in Launceston is $734,272 while the median value for Units is $497,284.
- Houses have a median rent of $480 while Units have a median rent of $430.
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