Lend Power Deal of the Fortnight – 5 Ascot Dr, Loganholme QLD 4129
Our pick of the week this week is 5 Ascot Drive Loganholme QLD 4129. Sold almost 2 years ago, this large QLD highset house consist of 3 bed, 2 bath and 2 garage house sitting on 640SQM offers the following:
- Location – sitting in a pure residential area of Loganholme with easy access to Logan Motorway/M1. Loganholme state school is also nearby.
- Building – dual-living highset with renovation done so in great condition throughout. 3 bedroom upstairs with separate living plus utility rooms downstairs.
- Value Add Potential – not much, all work has been done!
- Yield – estimated rental of $500/week as 1 house (conservative) which would gross at 6.4% rental return!
A good cashflow player for every investor in Loganholme with all work done up for you for a reasonable price, set and forget from day 1! Heavily focused on yield which will help balance your portfolio if you have some blue chip properties that are sucking up your cashflow, however it is certainly not perfect by all means. While I can accept the location not being walkable to any major amenities as it’s predominantly owner occupiers in this section of Loganholme, the fact all work has been done means this one will be sit back and wait type of property. Also note there is a pool so may have some extra expenses to factor in. However it definitely can work for those investors who are looking for a hassle-free IP but just need to be mindful there’s no chance to manufacture your own equity in the near short term.
Loganholme is a suburb in Logan council located about 29km south east of Brisbane CBD. Due to it’s lower entry price and more modern neighbourhood, Loganholme has been positioned as a popular area for young families who likes to own their home while still having good access to amenities and M1 in order to commute to CBD for work. The closest Hyperdome shopping centre is a major shopping centre and Loganholme Neighbourhood Planning has outlined the future zoning density changes with apartment & townhouses precincts to be introduced in order cater for growing population & evolving demographics.
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