Property Description

Property offered at ONLINE ONLY auction. BIDDING OPENS: Monday, June 22nd, 2020 at 5:00 PM (cst) | BIDDING CLOSES: Thursday, June 25th, 2020 at 2:00 PM) (cst). Bidding will remain open on this property until 1 minute has passed without receiving a bid. Property preview available. ONLINE BIDDING IS AVAILABLE THROUGH SELLER AGENT’S WEBSITE. CLEAR TITLE AT CLOSING, NO BACK TAXES. NO MINIMUM, NO RESERVE!!! Excellent opportunity to purchase an apartment complex and storage building! Currently called “The Elms”, it includes 11 units (7 individual homes and 2 duplexes) on .75 +/- acres. Each unit has one bedroom and one bathroom. There are no leases. Unit #2 tenant is month-to-month at $400 per month and all other tenants will be evicted before closing. These units were previously rented for $400-550 per month, which is a potential income of $52,800-72,600 per year! Approximately half of the appliances belong to the seller and will remain with the property. For utilities, there is 1 electric meter, 1 water meter and 1 gas meter. Buyer must comply with city and hook on to city sewer. Septic tanks do not pass inspection. Per seller, some porches, siding and windows need repaired and/or replaced. The property is currently occupied by a tenant. There is no written lease available for the property. *Buyer should verify school assignments as they are subject to change. The real estate is offered at public auction in its present, “as is where is” condition and is accepted by the buyer without any expressed or implied warranties or representations from the seller or seller’s agents. It is incumbent upon buyer to exercise buyer’s own due diligence, investigation, and evaluation of suitability of use for the real estate prior to bidding. It is buyer’s responsibility to have any and all desired inspections completed prior to bidding including, but not limited to, the following: roof; structure; termite; environmental; survey; encroachments; groundwater; flood designation; presence of lead-based paint or lead based paint hazards; presence of radon; presence of asbestos; presence of mold; electrical; appliances; heating; air conditioning; mechanical; plumbing (including water well, septic, or lagoon compliance); sex offender registry information; flight patterns, or any other desired inspection. Any information provided or to be provided by seller or seller’s agents was obtained from a variety of sources and neither seller nor seller’s agents have made any independent investigation or verification of such information and make no representation as to the accuracy or completeness of such information. Auction announcements take precedence over anything previously stated or printed. Total purchase price will include a 10% buyer’s premium ($1,500.00 minimum) added to the final bid. The real estate will be open for previewing one hour prior to the real estate auction, or by scheduled appointment. Earnest money is due from the high bidder at the auction in the form of cash, check, or immediately available, certified funds in the amount $5,000. MLS Number: 582140


E. MacArthur Rd & S. Broadway Ave - North to complex.

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