72 Friend Street, George Town TAS 7253

Large flat block limits | 1952 build condition | basic kitchen & bathroom | offer pending urgency The primary risk here is the deferred maintenance cost of a 73-year-old house, specifically the kitchen and bathroom, which may require $30,000-$50,000 in upgrades to meet modern standards. The offsetting opportunity is the 1,108 sqm flat block, which is rare in this market and provides future subdivision potential or simply space. This property should be held for land value appreciation rather than expecting immediate rental yield improvements from the current structure. What makes this competitive is the land-to-building ratio, which is unusually favorable for a $419,000 entry point. The fully fenced block with a shed serves first-home buyers wanting low-density living or investors seeking long-term capital growth through land holdings. No bushfire or flood overlays reduce insurance costs and improve bank financing terms. Best suited for a buyer who can tolerate cosmetic work and sees the house as secondary to the land. Your next step is to arrange a building and pest inspection immediately, given the offer pending status will force a decision within days.