55 Elphin Rd, East Launceston, Tasmania
Prime Location Residence with Income or 3 BnB lets (stca) or Health Professional Rooms
OFFERS OVER $1,199,000
Business Description
Set beyond an immaculate and commanding Victorian façade, Circa 1880,this timeless character residence presents a rare and exciting opportunity in a premier Launceston position.
Currently configured for split-level living with both residential and commercial use, the property offers exceptional versatility, a flexible floorplan, and strong triple income potential ideal for investors, professionals, or extended families.
The upper level was used as professional medical rooms, offering a spacious and adaptable layout including a kitchen and bathroom. This level lends itself to continued commercial use or an easy conversion into additional residential accommodation or BnB accommodation subject to LCC approval.
Commercial appraisal: $36,000 p.a. (ex. GST & outgoings) - based on previous appraisal as a medical usage.
The lower level is designed for comfortable residential living and has recently successfully operated as short-term accommodation (1st 50 weeks of operation generated $113,800) Current financial year up 40% on same period last year, with $33,000 plus forward bookings.
• Three possible bedrooms, two generous bedrooms with built-in robes
• Master with beautifully renovated ensuite and stand-alone bath
• A second renovated bathroom
• North-East facing open-plan kitchen, living, and dining space, drenched in natural light and flowing out to a landscaped garden perfect for indoor/outdoor living
On the East wing, a fully self-contained studio includes:
• Separate lounge area
• Additional bedroom
• Kitchen and bathroom
• Mezzanine with extra storage
• Private external access ideal for guests, extended family, or further rental income
Projected gross income (if all let as a BnB,stca) $280,000
Ideally positioned on the iconic Elphin Road, this property places you within easy walking distance of the Launceston CBD and beautiful City Park. Enjoy the convenience of nearby cafés, restaurants, and a vibrant local lifestyle. Renowned public and private schools, along with essential services, are all just moments away.
Whether you're looking to invest, live in and lease out, run a business from home, or accommodate extended family this is an extraordinary opportunity to secure a grand residence in one of Launceston's most tightly held locations.
For further information on this exciting and rare opportunity contact Neha Suyal at ---------- or Paul Scott at ---------- or email ----------
INTENDING PURCHASERS TO MAKE THEIR OWN INVESTIGATIONS AND ENQUIRIES IN RELATION TO THE BUSINESS AND NOT TO RELY UPON WARRANTY OR STATEMENT MADE BY THE VENDOR OR BY ANYONE ON HIS/HER BEHALF.
Please Note: All figures quoted are approximate.
Business Summary
Key Investment Insights
1. Rare circa 1880 Victorian residence in prime Elphin Road position, offering strong street presence and character appeal.
2. Configured for split-level residential and commercial use, delivering exceptional versatility and multiple income pathways.
3. Triple income potential highlighted, suitable for investors, professionals, extended families, or operator-owners.
4. Upper level previously used as medical/professional rooms, with a commercial appraisal of $36,000 p.a., convertible to additional residential or BnB accommodation subject to LCC approval.
5. Lower level proven short-term accommodation performer, first 50 weeks generated $113,800, current financial year up 40% year-on-year, with $33,000 plus forward bookings.
6. Projected gross income of $280,000 if fully let as BnB, subject to approvals, indicating significant upside from short-stay operations.
7. Self-contained east wing studio with separate lounge, bedroom, kitchen, bathroom, mezzanine storage and private external access, ideal for guest accommodation or independent rental income.
8. Main residence offers three potential bedrooms, two renovated bathrooms including a master ensuite with standalone bath, and built-in robes in two bedrooms.
9. North-east facing open-plan kitchen, living and dining area with abundant natural light and landscaped garden, supporting attractive indoor/outdoor guest experience.
10. Excellent location within easy walking distance to Launceston CBD, City Park, cafés, restaurants and well-regarded public and private schools, enhancing occupancy appeal and resale prospects.
