Investment Real Estate Auction
D.J.I. Real Estate, LLC Apartment Building
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Check out this 5 unit apartment building selling at Absolute Auction, without reserve! Several of the apartments have been gutted and completely remodeled, newer roof, newer windows, common laundry room with coin operated machines & more!
Began: Monday, May 11, 2020 at 4:00 PM CDT
Ends: Thursday, June 18, 2020 at 1:00 PM CDT
ONLINE ONLY REAL ESTATE AUCTION
***5 Unit Apartment Building***
619 Avenue F, Fort Madison, Iowa
BIDDING ENDS: THURSDAY, JUNE 18TH AT 1:00 PM
OPEN HOUSE: THURSDAY, JUNE 4TH FROM 5:00 – 6:30 PM
Investment Property Selling at Public Auction to the Highest Bidder, Without Reserve!
General Information: 5-unit apartment building with a current monthly income of $1,850.00 (4 out of 5 units rented). The building consists of (4) 1-bedroom, 1 bath units and (1) 2-bedroom, 1 bath unit. There is one upstairs unit that is currently under construction and awaits the new owners finishing touches. Each unit has its own independent electrical 100-amp service panel. The building has an off-street lighted & paved parking area, common laundry room w/coin operated machines and security cameras at all exits. There have been many updates to the building including new roof, new entry doors, new siding and many new vinyl replacement windows, plus several of the units have been remodeled. Excellent Investment Opportunity!
Auctioneer’s Note: Come take a look and Bid Your Price!! We strongly encourage all interested parties to attend the open house! Auction will be conducted online only, whereas each bidder can conveniently bid with an electronic device from anywhere!
Terms: $7,500 earnest money deposit at the end of the auction with the remainder due on or before July 20, 2020. The seller will provide a current abstract at their expense. Real estate sells “as is, where is”. Sale is not contingent on Buyer’s financing or any other contingencies.
Real Estate Taxes: Taxes will be prorated to the date of closing.
Closing: Closing will take place on or before July 20, 2020. The balance of the purchase price will be payable at closing in the form of guaranteed check or wire transfer.
Possession: At closing upon payment in full.
Rent Payments & Deposits: Apartments are rented at various rates on a month to month basis. Rent payments will be prorated to the date of possession. Any rent deposits will transfer to the Buyer as a credit at closing.
Inclusions: Each unit is furnished with a refrigerator, electric stove and window AC unit in addition to coin operated washer & electric dryer that will remain with the property. Any building materials and paints will also remain.
D.J.I. Real Estate LLC – Seller
Gregory Johnson of Johnson & Skewes Law Firm – Attorney for Seller
Fraise Auction & Real Estate
PO Box 8, New London, IA 52645
319-367-5744 ∙ 319-372-9121