SOLD
Sold on 01 Mar 2024 for $540,000

403/16 Paterson Street
Launceston TAS 7250

Bedrooms: 2
Bathrooms: 2
Car spaces: -
Floor area: 94m2
Land area: 94m2
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Property Details for 403/16 Paterson St, Launceston

403/16 Paterson St, Launceston is a 2 bedroom, 2 bathroom Unit and was built in 2006. The property has a land size of 94m2 and floor size of 94m2. While the property is not currently for sale or for rent, it was last sold in March 2024. There are other 2 bedroom Unit sold in Launceston in the last 12 months.

Building Type
Unit
Year Built
2006
Floor Size
94m2
Land Size
94m2
Local Government
Launceston
Lot/Plan
403/162450

Last Listing description (October 2024)

Located in the centre of Launceston's CBD precinct and in a historically significant local landmark building, we offer to you a unique opportunity to acquire an inner-city residence with the possibility for flexible investment returns or perhaps an inner city peid-a-terre.This dual apartment provides two flexible tenancies suitable for letting jointly or individually. Fronting Paterson Street and located on the fourth floor looking down on the city lights and across the historic rooftops of neighbouring buildings. With separate living, sleeping and bathing rooms as well as kitchen and laundry facilities this property lends itself perfectly to inclusion in the short-stay market or as a boutique urban home or rental property. The second tenancy is a studio style apartment that offers hotel-like amenities, including its own kitchenette. Historically enjoying high returns and with the potential to reintroduce to a pool of serviced apartments, this property is geared to the astute purchaser looking for income, growth and upside.Prominent features of this property include:- two separate tenancies on one title. - inner city, urban apartment- separate living and private spaces- built in storage- private apartment kitchen/laundry facilities- elevator and stair access- walking distance from Launceston's best establishmentsLiving Here Launceston is pleased to offer to you a variety of apartments configured for short or long term residential occupation. Please contact us today to further discuss available 1, 2 & 3 bedroom apartments.

Property History for 403/16 Paterson St, Launceston, TAS 7250

A timeline of how this property has performed in the market
Last Sold
$540,000
01 Mar 2024
  • 04 Jun 2024
    Listed for Sale Not Disclosed
  • 01 Mar 2024
    Sold for $540,000
  • 21 Oct 2021
    Listed for Sale Offers over $599,000
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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 3,722 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.
There are currently 31 properties listed for sale, and 38 properties listed for rent in Launceston on OnTheHouse. According to CoreLogic's data, 117 properties were sold in the past 12 months in Launceston.

Suburb Insights for Launceston 7250

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Disclaimer
Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.