The unit at 23/26 Argonaut St, Slacks Creek, sold for $160,000.
LOGAN City has provided investors with bargain prices for rental properties.
Your Real Estate Browns Plains agent Bridgette Griffiths said another owner within a gated Argonaut St unit complex at Slacks Creek snapped up the property at No. 23/26 for a bargain $160,000.
The kitchen was dated, but tidy.
“They knew the area well and knew the complex and what it offered,” Ms Griffiths said.
“They felt that it was a good investment and ended up purchasing it for his son to start his investment portfolio.”
The unit, which had two bedrooms and one bathroom, came the advantage of having a long term tenant, who was renting the property for $270 weekly.
The dining room of the home.
“It has had the same tenant for 16 years so it was tired, and the price was reflective of its condition,” Ms Griffiths said.
“However, it had a high yielding return and a long term tenant, which is always great for any investor.”
According to CoreLogic data, the median unit sale price for Slacks Creek was $206,000.
Ms Griffiths described the unit investment market as “buoyant”.
“The vacancy rates seem to be reasonable and the demand is always high,” she said.
The complex has a pool.