303/16 Paterson StreetLaunceston TAS 7250
Property Details for 303/16 Paterson St, Launceston
303/16 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 June 2012.
Last Listing description (May 2026)
Positioned high on Level 3 with sweeping views across Launceston, Apartment 303/16 Paterson Street presents a rare dual-key investment opportunity in the heart of the CBD. Offering two fully self-contained residences on one title and securely leased as a serviced apartment until 2027, this is the ideal set-and-forget addition to any investment portfolio.
Designed for maximum flexibility and strong rental appeal, the property includes a spacious one-bedroom apartment alongside a separate hotel-style studio - each with its own kitchen facilities, bathroom, and private living space. The clever dual-key configuration delivers multiple income streams while providing long-term security through the current lease arrangement.
The main apartment features a generous bedroom, open-plan kitchen and dining area, built-in laundry facilities, excellent storage, and a bathroom with shower over bath. The adjoining studio apartment offers comfortable hotel-style accommodation complete with kitchenette and private bathroom.
Investment Highlights:
Secure serviced apartment lease in place until 2027
Approximate gross annual income of $34,513 per annum
Approximate net income of $23,443 per annum
Strong gross yield of approximately 7.19%
Approximate net yield of 4.88%
Property Features:
Rare dual-key layout with two self-contained apartments on one title
Spacious one-bedroom apartment plus separate studio apartment
Elevated city views from Level 3
Secure complex with lift access
Premium walk-to-everything CBD location
Excellent low-maintenance investment opportunity
Strong and consistent rental performance
A unique and versatile city investment offering immediate income, long-term security, and outstanding CBD convenience in one of Launceston's most tightly held CBD locations.
Property History for 303/16 Paterson St, Launceston, TAS 7250
- 14 May 2026Listed for Sale $480,000
- 18 Jun 2012Sold for $420,000
Recent sales nearby
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0About Launceston 7250
The size of Launceston is approximately 4.5 square kilometres. There are 13 parks, covering nearly 16.4% of the total area. The population of Launceston in 2016 was 2944 people. By 2021 the population was 3110 showing a population growth of 5.6% 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 $1800 - $2399 per month on mortgage repayments. In general, people in Launceston work in a professional occupation.In 2021, 46.80% of the homes in Launceston were owner-occupied compared with 48.20% in 2016.
Launceston has 3,722 properties. Over the last 5 years, Houses in Launceston have seen a 28.49% increase in median value, while Units have seen a 19.27% increase. As at 30 June 2026:
- The median value for Houses in Launceston is $855,283 while the median value for Units is $562,985.
- Houses have a median rent of $583 while Units have a median rent of $450.
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