24-Unit Apartment Building in Yankton, SD AUCTION

Property 1: 24-unit Apartment Building built new in 2006 on the edge of Fox Run Golf Course. 1313 West 30th Street, Yankton, SD

This is a beautiful, like new apartment complex in an outstanding location adjacent to Fox Run Golf Course, near the new Menard’s & less than a mile from Yankton’s Super Wal-Mart! New buyer will start seeing a return on their investment in just 30-days!

This 3-story, apartment building was built new in 2006 and is a total of 24,792 square feet. It contains Six 3-Bedroom, 2-Bath units that rent for $750 per month; Two 2-Bedroom, 1-office units that rent for $695 per month, and Sixteen 2-Bedroom, 1-bath units that rent for $625 per month. Two of the units are designed for handicap residents. There are 38 parking spaces on a 6,800 square foot concrete parking lot. Each level has its own laundry room with 2 sets of coin-op washers & dryers that are included in the purchase of the property. Each unit is wired with its own electric meter. Heat is 100% electric. Gross monthly rent is $15,890 or Gross yearly rent of $190,680. Gross monthly expenses without taxes are approximately $2,039 per month. All units are 100% occupied when this was listed and the existing manager is willing to work with the new buyer.

Approximate operating expenses per month are: Management $1,112; Electric $240; Water $500; Phone/Alarm $67; Garbage $120;

Legal: Tract A, Outlot, 8, Parcel A, Fox Run Subdivision, City of Yankton, SD. Taxes are $16,635.76.

The owner of this Income-Producing Real Estate is relocating to the southern United States and will be offering all this at public auction. We are working for a highly motivated seller, be prepared to buy on auction day! Start receiving a return on investment almost immediately after closing! Whether looking for a “beginner” real estate rental investment or serious, long term investment, this auction is for you! Make plans to attend!

Due to the large number of properties and the number of tenants, a public open house will not be scheduled. Please make an inspection appointment with the Auction Company.

Terms: 10% Non-refundable down payment on each property made the day of auction with the balance due on closing of April 30th, 2012. Full possession on closing. Title insurance & closing costs split 50/50 between buyer & seller. Yankton County Title Company, Closing agent. Taxes will be prorated to the day of closing. Auctioneers are acting as agents to the seller. 2% Broker Co-op available to pre-registered brokers; please call for details or go online. Rents will be prorated to closing and being sold subject to all existing rental contracts. Information contained herein is deemed to be correct but not guaranteed. This property is being sold in “as-is” condition and subject to any existing easements, restrictions, reservations or highways of record, if any.

Live Internet bidding will be available on this property with 1% Buyer’s Premium charged to the winning online bidder. Register to bid and see full Internet bidding terms at www.GirardBid.com.

BROKER PARTICIPATION FORM--CLICK HERE!

Lewis & Clark Holding Co., LLC—Owner

Girard Auction & Land Brokers, Inc.

Toll Free: 1-866-531-6186

Phone: (605) 267-2421

www.GirardAuction.com

Marv Girard, BA #12399; Ken Girard, CAI, AARE Broker #10183; Mike Girard BA #13549