173 Wellington Street

Inner-City Convenience, Dual-Income Potential

Description

A distinctive inner-city opportunity, Dunorlan Terrace at 173 Wellington Street brings together two self-contained one-bedroom apartments on a single title, offering flexibility for an owner-occupier, investor or those looking to combine both. Positioned directly opposite Coles and within easy walking distance of Launceston CBD and the Launceston General Hospital, the property offers a highly convenient address with genuine versatility. Set across two levels, 173A occupies the ground floor and has been thoughtfully updated, including replumbing, rewiring, polished timber floors, a modernised kitchen and new bathroom. Excellent storage and a practical layout add to its appeal, while the apartment is currently leased with furniture included as part of the tenancy. Upstairs, 173B is a separate one-bedroom residence with its own rear rooftop courtyard, offering the next opportunity to renovate, refresh and add value to the property, following the updates already completed to 173A. For an owner-occupier, the layout presents the opportunity to live in one apartment while renting the other. For investors, both residences can be leased independently, providing two income streams from one property. A communal laundry services the apartments, while a shared rear off-street parking space provides additional convenience. Currently returning $705 per week, both apartments are securely leased through early 2027. A current rental appraisal indicates potential combined income of up to $840 per week, providing scope for future rental growth. With Coles directly opposite, the hospital only minutes away and the CBD within walking distance, 173 Wellington Street offers a rare combination of flexibility, location and future potential - whether you're looking to live in, invest, renovate or combine the two. Communal laundry One shared rear off-street parking space Current combined rent: $705 per week Rental appraisal: up to $840 per week Body corporate: $706.50 per quarter, including building insurance Current Tenancy: 173A (Downstairs)- $425 per week | Lease until 9 February 2027 173B (Upstairs) - $280 per week | Lease until 4 March 2027 Proposed Current Market Rental Appraisal: 173A - up to $470 per week 173B - up to $370 per week The information on this website has in part been supplied to Harrison Agents Launceston by third parties and all information is published solely for potential purchasers to assist them in deciding whether or not they wish to make further enquiries about the properties. Harrison Agents Launceston has not checked the accuracy of the information and does no more than pass it on.

Property Details