185 Paterson Street, Tennant Creek NT 0860

Block of units | 4 bed, 2 bath | 1000m² land | Tennant Creek | Recently transacted This property presents a consolidated landholding of 1000 square metres configured as a block of units, a format offering inherent flexibility in a market like Tennant Creek. The scale of the land relative to the dwelling configuration is a competitive strength, providing a buyer with multiple occupancy or revenue streams from a single title, which is operationally simpler than separate lots. The recent sale of the overall property in 2024 establishes a fresh price point, while the separate sale of Unit 1 within the block for a nominal sum in the same period signals a history of partitioned ownership, simplifying future strata or tenancy management. This property serves an investor seeking a portfolio-in-one acquisition or an owner-occupant requiring extended family accommodation with clear separation, capitalizing on the proximity to core town services and schools. Proceed with the understanding that the primary risk is market depth; tenant demand for four-bedroom units in a remote centre requires verification, and the absence of detailed property condition reports places the onus on due diligence for building quality and maintenance liabilities. The opportunity lies in acquiring a substantial, serviced parcel with existing improvements at a total outlay that may be below replacement cost, offering a commercial logic for either holding as a rental block or reconfiguring the use of the land over the long term. Given the data, the judgment is to treat this as a strategic land play with existing cash-flow potential, suitable for a patient buyer with local management capabilities, rather than a short-term traded property. Recent comparable sales within the same address provide direct benchmarks: Unit 1/185 Paterson Street sold for $350 in January 2024, and the entire block of units last sold in 2024 for an undisclosed sum. The nominal sale of Unit 1 likely reflects a title transfer within existing ownership, while the 2024 block transaction sets a contemporary market value for the whole. This history indicates the components of this property are actively transacted, providing a clear, recent valuation foundation for the entire offering and underscoring its liquidity within the local market context.