Richlands three bedroom townhouse Brisbane's cheapest weekend auction sale
A three bedroom townhouse at Richlands has been sold for $280,000 making it Brisbane’s most cheapest weekend auction sale.
Located at 23/20 Kathleen Street in the Progress Park development, the property was marketed as suitable for investment or first home buyers.
Its price had falled back on its 2009 purchase of $339,000.
The master bedroom of the townhouse has an ensuite, walk-in wardrobe and a balcony.
The open plan living and dining areas opens to a pave outdoor space.
The development with a communal swimming pool and barbecue area has seen many of its townhouse's prices go backwards.
One of the most recent sales in the development saw another three bedroom townhouse fall back from $330,000 in 2009 to $275,000.
Its current rental return is between $350 and $360 a week, which would reflect around a 6.8 percent yield.
The home had been on the market for nearly a year before its sale. It came with an asking price of $259,000 after having initial $310,000 hopes last year.
There were two sales last year which both saw prices going backwards.
The body corporate fees sit at around $50 a week.
