These flats are well located in Mowbray, a suburb of Launceston close to the University, Grammar School and the TAFE College at nearby Newnham. Mowbray shopping centre, all conveniences, transport and amenities are all within walking distance.
There are three flats – 1 x 3 bedroom and 2 x 1 bedroom, all separately metred and with individual hot water cylinders. The current owners purchased the property and then upgraded the building with new cladding, the walls between the cladding and exterior were insulated for thermal comfort. Various other improvements to each flat include replacement of windows, sub soil drainage installed, interior replastering, vinyl flooring to the bathrooms, internal painting, blinds, exhaust fans, and hot water cylinders to each flat replaced.
This is an elegant building, featuring the original charm of its era with high ceilings and well proportioned rooms. The upper level contains the 3 bedroom flat, and a 1 bedroom flat. The lower level contains the other 1 bedroom flat.
There is a large yard, with clothes line and plenty of outdoor space to enjoy.
This is a quality neighbourhood with two new townhouses which have been built next door.
The current rent is $565 per week which represents a gross return of over 9%. There is potential to increase the current rents to achieve an even greater return.
Another attractive option is to live in one of the flats and have the other two provide you with a solid, ongoing income to secure your future.
Land 533m2 House 215m2 Year 1910 (all sizes are approximate)