OFF MARKET

505/16 Paterson Street
Launceston TAS 7250

Bedrooms: 2
Bathrooms: 2
Car spaces: -
Floor area: 102m2
Land area: 102m2
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Property Details for 505/16 Paterson St, Launceston

Building Type
Commercial
Year Built
2006
Floor Size
102m2
Land Size
102m2
Local Government
Launceston
Lot/Plan
505/162450

Last Listing description (November 2022)

Formerly known as the Quest Apartments, is now under new management, Central Apartments Launceston with a new fresh look and is booming once again.
This fantastic opportunity has presented itself , on the 5th floor with amazing views as far as the eyes can see. This dual apartment provides a fantastic rental return. Currently permanently tenanted, $725 a week combined.
This beautiful historical building is Heritage Listed and is a local landmark in the inner City of Launceston..

Apartment 5A with an incredible views of Launceston and its surroundings from every room with an open plan kitchen, dining and lounge room, with a great size bedroom with built in cupboards. The bathroom is equipped with the shower over the bath tub ,laundry and toilet.
Apartment 5B has an open plan bedroom, kitchenette and lounge room. The bathroom has a walk in shower & toilet.

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 establishments

Living 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.

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Property History for 505/16 Paterson St, Launceston, TAS 7250

A timeline of how this property has performed in the market
Last Sold
$530,000
04 Nov 2022
  • 04 Nov 2022
    Sold for $530,000
  • 05 Oct 2021
    Listed for Sale Price on Application
  • 23 Sep 2013
    Sold for $440,000

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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 30 properties listed for rent in Launceston on OnTheHouse. According to CoreLogic's data, 117 properties were sold in the past 12 months in Launceston.

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