This is a unique investment real estate opportunity. These seven homes were built in 1948 and each is 1-bedroom. Each is approximately 24’x21’ with no basement and have brick facing. Each unit rents for $350 per month with renters paying their own utilities. Gross monthly rent of $2,450 or $29,400 per year. The only expense besides taxes for the owner is management fee of approx $295 per month. Each unit is currently occupied and manager is willing to work with the new owner.
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
