Commercial | Apartments
- Sqft: 7651
- Lot Size: 27225
- No of Unit: 9
- # of Stories: 1
- Cap Rate: 12%%
- Built: 1950
9 units Completely rehabbed within last 3 months, so all #'s are based upon actual rents of last 3 months. Property was vacant when current owner bought 9 units, so all expenses are projected and not actual, except property taxes & insurance. (7) 2 bedroom, 1 bath & (2) 1 bedroom, 1 bath units*NOI (Net Operating Income) potential is $48,505*Check out completed Rehab #'s & Sold Comps in the pdf's at the bottom of this page???
- Seller will only accept for fixer upper properties.
- Property is being offered "AS IS, WHERE IS".
- There are no inspection or financing contingencies.
- Bidders must inspect property before bidding ends or ask for inspection contingency to take place within 48 business hours of acceptance. If bidder asks for this contingency they will be subject to losing their $997 deposit for taking the property off the market if they don't close on property. If they do close then this $997 will go towards buyers earnest money.
- All pictures, details or descriptions of any property, condition of title, value or otherwise is provided for informational purposes only and may not represent the true and current status of the property now or at the time of sale.
- Title is open for subject property, and Seller warrants their aren't any liens on property that will prevent it from closing.
- Buyer will receive a General or Special Warranty Deed, depending on title.
- Seller will only accept Cash, Line of Credit or Hard Money Loans for fixer upper properties.
- The Buy Now feature allows users to buy a property NOW instead of waiting for the auction to end.
- Seller reserves the right to a final review and can accept or reject any offers if highest or Buy Now Bidder doesn't provide satisfactory verification of their ability to close on the property.
Starting Bid/Make Us an Offer
Can't wait for the auction to end?
You don't have to wait for the bidding to end, or compete with other offers if you are willing to buy this property at this price?
- Buyer will pay a $497 buyer premium to buy your property at closing & funding.
- Buyer pays for owners title policy, all escrow fees and will be responsible for property taxes & HOA fees from the day of closing until the end of the year. Seller pays for their prorated share of property taxes & HOA dues up to the day of closing/funding.
- Buyer will be responsible to buy survey, HOA documents and resale certificate if needed.
- Earnest Money Deposit is $2,000 or 2% of the Sales Price (whichever is greater).