369-371 Wellington StreetSouth Launceston TAS 7249
Property Details for 369-371 Wellington St, South Launceston
369-371 Wellington St, South Launceston is a 5 bedroom, 4 bathroom Unit with 4 parking spaces and was built in 1964. The property has a land size of 296m2 and floor size of 286m2. While the property is not currently for sale or for rent, it was last sold in June 2023.
Last Listing description (July 2023)
This 1964 brick rendered residence is a rare find in the current market, offering the unique configuration of four flats on one title. All are currently tenanted to long term occupants with a combined rent of $1,200.00 per week.
Due to the existing configuration, Launceston City Council have indicated that the property does have Strata Development potential, making it an interesting prospect for a savvy builder or developer (STCA). Be advised this property does have some issues with structural integrity and would therefore best suit a buyer that can address the restoration work themselves.
Only an easy 10-minute drive into the Launceston CBD, this property has both an upstairs and downstairs flat situated on each side. There is a shared common entry foyer and central staircase, with inside access from both the front and back of the building.
Each of the floorplans slightly differ however all have built-ins, a bathroom with toilet, a spacious lounge room and a large separate kitchen which incorporates the laundry zone. The two top level flats have the benefit of a large timber balcony which was built in 2010. There is a single allocated parking bay for each occupant and the 296m2 block (approximate) is conveniently low maintenance.
The excellent team at Property Wise Launceston are the property managers for this address. Details for each existing lease are as follows:
Flat 1 (bottom left one bedroom) - $270.00 rent per week. Lease end October 2023
Flat 2 (bottom right one bedroom) - $270.00 rent per week. Lease end July 2024
Flat 3 (top left two bedroom) - $350.00 rent per week. Lease end May 2024
Flat 4 (top right one bedroom) - $310.00 rent per week. Lease end July 2024
Give Rae a call on 0455 445 300 for further information.
Annual Launceston City Council rates $5,145.48
Annual Taswater rates + usage $3,440.00
Flanagan Residential provides this information from third parties as a convenience to you and recommends prospective purchasers carry out their own enquiries and seek legal advice with respect to the property information provided.
Property Code: 489
Property History for 369-371 Wellington St, South Launceston, TAS 7249
- 28 Jun 2023Sold for $765,000
- 01 Jun 2023Listed for Sale Offers Over $795,000
- 05 Aug 2021Sold for $960,000
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0About South Launceston 7249
The size of South Launceston is approximately 2.8 square kilometres. There are 8 parks, covering nearly 5.4% of the total area. The population of South Launceston in 2016 was 4592 people. By 2021 the population was 4894 showing a population growth of 6.6% in the area during that time. The predominant age group in South Launceston is 20-29 years. Households in South Launceston are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in South Launceston work in a professional occupation.In 2021, 51.20% of the homes in South Launceston were owner-occupied compared with 52.60% in 2016.
South Launceston has 2,429 properties. Over the last 5 years, Houses in South Launceston have seen a 41.03% increase in median value, while Units have seen a 43.65% increase. As at 31 August 2026:
- The median value for Houses in South Launceston is $664,566 while the median value for Units is $483,788.
- Houses have a median rent of $550 while Units have a median rent of $435.
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