For Sale | Flanagan Residential | Rae Smith | Launceston

17A - 17B Welman Street, Launceston

SOLD for $1,268,000

4 4 4 495 m2

ONE TITLE, FOUR FLATS ON CITY FRINGE

This 1940 solid brick residence is a rare find in the current market, offering the unique configuration of four flats on one title. All are currently tenanted with varying lease end dates and the weekly rent amounts range from $230 - $255 per week (see details below).

Only a 5-minute walk to the Launceston CBD and Launceston Aquatic Centre, this property has both an upstairs and downstairs flat situated on each side. There is private access from the front and back, while the top-level flats have a small balcony overlooking the city and river. All of the front windows offer the most wonderful views and Welman Street is renowned for being safe and quiet.

Each of the floorplans are slightly different, however all have one double bedroom with large built-in robe, a bathroom with toilet, separate kitchen and a good size living room. The 3D Virtual Tours completed for both Flat 1 and Flat 3 give buyers an excellent overview of the spaces. There is a single allocated parking bay for each occupant and the 495m2 block is conveniently low maintenance.

Due to the existing configuration, Launceston City Council have indicated that 17A-17B Welman Street has Strata Development potential, making it an exciting prospect for a savvy investor (STCA). A Pre-Purchase Building Inspection has already been completed for buyer convenience, with no major structural defects noted.

The excellent team at Property Wise Launceston are the property managers for this address. Details for each existing lease are as follows:

Flat 1/17A Welman St (downstairs) - $255.00 rent per week. Lease end January 2023

Flat 2/17A Welman St (upstairs) - $245.00 rent per week. Lease end February 2022

Flat 3/17B Welman St (upstairs) - $255.00 rent per week. Lease end November 2022

Flat 4/17B Welman St (downstairs) - $230.00 rent per week. Lease end April 2022

Properties such as 17A-17B Welman Street are hard to come by, so give Rae a call on 0455 445 300 for further information.

Deadline for Offers is 12.00pm Thursday, 25th November. 2021.

Annual Launceston City Council rates $5,305.00

Annual Taswater rates + usage $3,771.00

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.

Features

Balcony Deck Courtyard NBN Connected

Details

Address	17A - 17B Welman Street, Launceston
Price	SOLD for $1,268,000
Property Type	Residential
Property ID	392
Category	Other
Land Area	495 m2
Floor Area	256 m2

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17A - 17B Welman Street, Launceston

SOLD for $1,268,000

ONE TITLE, FOUR FLATS ON CITY FRINGE

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Rae Smith