405/16 Paterson StreetLaunceston TAS 7250
Property Details for 405/16 Paterson St, Launceston
Last Listing description (November 2021)
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 single bedroom apartment fronts Paterson Street and from the fourth floor looks across to the hills of luxury East and West Launceston. 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.
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:
- 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.
Property History for 405/16 Paterson St, Launceston, TAS 7250
- 16 Nov 2021Sold for $389,000
- 30 Sep 2021Listed for Sale Offers over $359,000
- 14 Jan 2013Sold for $280,000
Recent sales nearby
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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 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 3,723 properties. Over the last 5 years, Houses in Launceston have seen a 41.37% increase in median value, while Units have seen a 27.53% increase. As at 31 January 2026:
- The median value for Houses in Launceston is $766,540 while the median value for Units is $497,845.
- Houses have a median rent of $510 while Units have a median rent of $450.
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