11 Pendennis Street, Riverside TAS 7250

West Tamar outlook | 3-bed on 664 m² | lower-level rumpus | long-term tenancy | tightly held pocket This property is positioned in one of Riverside’s tightly held pockets, with a West Tamar outlook that is rarely captured at this scale. A lower-level rumpus room and drive-through garage are provided, offering practical flexibility for families or investors. The long-term tenancy guarantees immediate rental income, while the configuration suits owner-occupiers seeking space, convenience, and proximity to Launceston CBD. Presented as functional rather than polished, the home appeals most to buyers who see potential to enhance and personalise, knowing the core structure and location are solid. The older interior and current tenancy may limit short-term rental upside, and the split-level layout might require maintenance attention, particularly in the lower areas. Market softening has been observed in the area, but the unique outlook and generous land size may buffer value better than standard stock. Cosmetic update costs should be weighed against the long-term growth potential of a view property, especially for buyers planning to occupy or renovate after the tenancy ends. >> Comparable Sales: 12 Pendennis St (4-bed, 674 m²) sold $690K; another similar 3-bed sold $650K | Property Price Band: $600K-700K | Value Drivers: West Tamar outlook, lower-level rumpus, land size