November 30, 2017 @ 12:00 PM
General Description: Selling will be an 8-unit apartment complex located at 158-172 North Street in Melvin, Iowa. The property consists of two 4-unit apartment buildings. Each apartment is 560 square feet and has 1-bedroom with a full bathroom. Both buildings were built in 1976, and the current rents are approximately $300 per month. All the units are subject to current tenant rights. Each unit has an individual electric meter with electric baseboard heaters, refrigerator and stove furnished. There are common water meters for the property. The sleeve air conditioners are owned by the tenants. The exterior of the buildings feature brick veneer with some vinyl siding. The roofs have 30-year architectural shingles that were installed in 2008. The lot size is 180’ x 142’. This would make for a great investment property! Brief Legal Description: The West Thirty and zero tenths feet (30.0 ft) of Lot Three (3), and all of Lots Four (4), Five (5), and Six (6), Block Four (4) of the Original Town of Melvin, Iowa. Real Estate Taxes: The estimated net real estate taxes are $1,866 per year. The taxes will be pro-rated to the buyer to the date of possession based on the current taxes. Terms: 10% down payment upon the close of the auction and notification of successful bidder on December 7, 2017. The balance will be due at closing on or before January 8, 2018. Current tenant security deposits will be given to the new buyer. Rent payments will be prorated to the buyers. The seller is a licensed real estate broker. Online auction by Owner-Broker. The abstract will be continued to date. The seller guarantees a clear and marketable title on the property. Possession: January 8, 2018. Open House: An open house will be held on Thursday, November 30 from 5:00 - 7:00 PM. If this is not convenient please contact the auction company at the phone numbers listed below for an appointment to inspect the property. Auctioneer’s Note: Here is a great opportunity to purchase a great income producing property at an online auction. This will be an 'ONLINE ONLY AUCTION’! This method offers you the opportunity to bid at your convenience any time of the day or night. Go to our website: www.vw72.com for instructions on how to register and bid. If you have any questions regarding the real estate, or online bidding, please give us a call at 712-729-3264. You can speak with Shannon, Brent or e-mail us as at auctions@tcaexpress.net. The open house is on November 30th, with the bidding to begin on November 30 and close on December 7. Thanks for your interest, have fun bidding and please call if we can assist you in any way! Thanks! Brent Auction Terms: This property is being sold "as-is" "where-is". Information contained within this advertising was received from sources deemed to be reliable; however, no warranties are provided by the auction company regarding these. All prospective bidders are encouraged to take whatever steps necessary to satisfy themselves regarding the sizes, condition, real estate taxes and all other information provided in this advertisement. There are no warranties expressed or implied by the auction company or auctioneers. The auction company represents the SELLERS in this transaction. Additional terms and conditions are posted online. Potential bidders must agree to these terms and conditions prior to registering and bidding. Online announcements will supersede any written advertising information. Seller has financial interest in property.