55 Elphin Rd, East Launceston, Tasmania
Prime Location Residence with Income or 3 BnB lets (stca) or Health Professional Rooms
OFFERS OVER $1,149,950
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
AI generated. Confirm details with the seller.
1. Lower level short term accommodation generated approximately $113,800 in its first 50 weeks, with current financial year revenue up 40%.
2. Forward bookings exceed $33,000, supporting future accommodation income.
3. Elphin Road location within walking distance of Launceston CBD, City Park, cafés and restaurants.
4. Circa 1880 Victorian residence offers flexible residential and commercial spaces, with potential for three income streams.
5. Former upper level medical rooms include a kitchen and bathroom, with a previous commercial rental appraisal of approximately $36,000 annually excluding GST and outgoings.
6. Fully self contained studio features private external access, a separate lounge, bedroom, kitchen, bathroom and mezzanine storage.
7. Lower residence features renovated bathrooms, a light filled living area and landscaped garden.
8. Potential conversion to three BnB lets is subject to Launceston City Council approval.
9. Flexible configuration supports living onsite while leasing other spaces, professional use or extended family accommodation.
