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15 Eddington Crescent, Invermay TAS 7248

Offers Over $895,000

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$895k - $940k Transparent Transparent Listing Based on an openly advertised listing price.

Unit 5 Beds 3 Baths 1 Car 971 m² 186 m²

Listed: 13 days ago

Overview

This substantial unit at 15 Eddington Crescent offers a unique investment opportunity in Invermay, Tasmania. Situated on a generous 971 square meter parcel of land, the property features a building footprint of 186 square meters, housing a converted residence comprising two two-bedroom units and an additional one-bedroom unit. This multi-unit setup demonstrates immediate and durable rental appeal, with tenancy returns currently at $64,740 and projected to increase to $66,300 from January 2027.

The property holds full council approval for its configuration, a key consideration for investors seeking assurance regarding compliance and legal standing. Recently refreshed externally with a complete repaint, the building presents well-maintained and visually impressive street appeal, indicative of good ongoing stewardship.

Ideal for investors focused on steady income streams in Launceston's vital rental market, these types of tenancies traditionally exhibit high occupancy levels, minimizing vacancy risk. The setup's combination of multiple units within a single property footprint supports diversified tenant portfolios, increasing financial security.

The property's location is advantageous for tenants, with close proximity to schools, bus routes, and Mowbray Shopping Centre, facilitating everyday convenience. The central business district is also accessible within a ten-minute drive, supporting tenant lifestyle needs across employment and services.

With five bedrooms and three bathrooms overall, alongside a garage space, the property maintains a balance of living space and essential amenities. This balance supports high rental demand across diverse tenant demographics, including families and professionals.

Local Market Insights

In Invermay, Quiet Listings observed 5 new units entering the market over the last 30 days, up from 2 during the previous 30-day period, with an average advertised asking price of $547,000. The property type mix of listed properties is predominantly Houses at 76%, followed by units (15%), and home for sales (6%). The most active agency for units in the Invermay area is currently Harrison Humphreys Real Estate, representing 40% of new listings, followed by Ray White with 20%. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.

While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.