(3) 4-Plex Apartment Units in Yankton, SD at Auction

Property #2: Clover Leaf Apartment Complex--#808, #810, and #813 Birch Road. (3) 4-Plex units with 10-Stall garage located near the 4-H Grounds. This complex was built new in 1994 & 1995. Each apartment is a 2-Bedroom Apartment with 1-bath. There is a common laundry in each 4-plex with a set of coin operated washer & dryer. Total square feet for each complex is 3,648 sq feet. Includes new siding for to finish approximately 2-units. About 70% of the units have newer laminate flooring. There are 2 bare lots to the east of the complex that are included in this sale. Each unit rents for $595 per month without a garage stall or $625 per month with a stall. Gross monthly rent on the Clover Leaf Apartment Complex is $7,140 to $7,440 per month or gross yearly rent of $85,680 to $89,280. Gross monthly expenses are approx $1,545 per month. All units are currently 100% occupied and existing manager is willing to work with the new buyer. This complex with the garage and two bare lots will be sold as a single tract.

Legal: Lots 6, 7, Block 7 Pine Acres; Lots 8 & 9 except SW 6’6”, Lot 9, Block 7, Pine Acres; Lots 2, 3, & 4 Block 8, Pine Acres all in the City of Yankton, Yankton County, SD. Taxes are $8,593.88 per year.

Approximate Monthly Expenses: Management $520; Gas $500 (during Winter months); Water $360; Electricity $45; Garbage $120;

Properties #2 & #3 have an excellent location in a residential neighborhood near several of Yankton’s largest employers including Gehl, Baldwin/Hastings, & SAPA.

Properties #2 & #3 will be offered as single options, then tied together and offered as an entire unit and will sell in whichever way yields the seller the most return.

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