kansas-city-auction-company

GONE! OWNER ORDERED MULTI-FAMILY AUCTION – North Kansas City, MO

2 Buildings, 6 Units, 4 Garages, 1 Lot (2013 Net Operating Income $17,533.00)


Unique property with two triplex buildings on one lot.   Bldg. 1: 3 – 1 bedroom apts, basement, new roof & windows.  Bldg 2: 3 – 1 bedroom apts. 4 garages, new windows;  Great income opportunity.  Come and bid your price! 

LIVE OFF-SITE AUCTION WITH ONLINE BIDDING
Began: 05/30/14 at 10:00 AM CDT
Property Location:

2028 Erie Street, N. Kansas City, MO 64116


Auction Location: 1440 Iron Street, N. Kansas City, MO 64116
INSPECTION
Began: 05/15/14 at 11:00 AM CDT
Ended: 05/15/14 at 1:00 PM CDT
Location: 2028 Erie Street, N. Kansas City, MO 64116

INSPECTION
Began: 05/22/14 at 11:00 AM CDT
Ended: 05/22/14 at 1:00 PM CDT
Location: 2028 Erie Street, N. Kansas City, MO 64116


6 Apartments & 4 Garages, North Kansas City  –  2013 Net Operating Income $17,533.

This unique property offers a great income opportunity with two triplexes with 6 – 1 bedroom apartments and 4 rental garages. The average apartment rent is $400/month and average garage rent is $50/month.  Fully leased at current rates, the property would generate $31,200 in gross rents.  With 2013 rents received of $26,240, the property generated a nice net operating income of $17,533.   Don’t miss the opportunity to buy at auction prices.  Come and bid your price!

FAST FACTS

 

2028 Erie St.

No. Units:        3 – 1 bedroom

Building Size:   1,567 sq. ft.

Year Built:        1920’s

Property Type:  Multi-family

Property Use:    Investment

Occupancy:        100%

Improvements:  New roof 2013

New windows 2-3 yrs.

New water service line 2-3 yrs.

 

315 E. 21st St.

No. Units:          3 – 1 bedroom

No Garages:       4, seller using 2

Building Size:     1,836 sq. ft.

Garage Size:      612 sq. ft.

Year Built:         1920’s

Property Type:  Multi-family

Property Use:    Investment

Occupancy:        86%

Improvements:  New windows 2-3 yrs.

                        New elec. heat/unit 3-5 yrs.

 

Other:

Lot Size:               4,792 sq. ft. (35’x126’)

2013 Taxes:         $1,771

Tax I.D.:              17-610-00-09-010.00

2013 NOI:            $17,533

 

* Information obtained from Seller and Clay County real estate records

 

PLEASE NOTE: Auciton will take place offsite at Cates Auction & Realty Co. 

1440 Iron Street, N. Kansas City, MO  64116

AUCTION TERMS AND CONDITIONS:

 

REGISTRATION:

Onsite bidder registration will begin one hour before the auction. Online bidder registration is open now. All bidders must provide a valid driver’s license and current address.  Online bidders must also provide a credit card to register.  By registering, all bidders acknowledge having read and agree to be bound by the Auction Terms and Conditions.

 

DOWN PAYMENT:

The successful bidder(s) shall be required to make a 10% non-refundable down payment of the total purchase price immediately following the close of bidding.   Cash, cashier’s check or personal/business check will be accepted from onsite bidders.  Bank wire will also be accepted from online bidders.

 

FINANCING:

Financing is not a contingency of sale in this offering. Therefore, it is strongly recommended that potential bidders ensure in advance that they are able to obtain the necessary financing to close the transaction.

 

CONTRACT SIGNING:

The successful bidder(s) shall execute a purchase agreement immediately following the close of bidding. All final bid prices are subject to Seller approval, unless announced otherwise.

 

CLOSING:

Buyer(s) shall close within 30 days of the auction date. Possession will be delivered at closing subject to any remaining rights of the current tenant(s), if applicable.

 

EVIDENCE OF TITLE

Seller shall furnish at seller’s expense an Owner’s Policy of Title Insurance in the amount of the total purchase price and shall execute a general warranty deed conveying the real estate to the buyer(s).

 

REAL ESTATE TAXES & ASSESSMENTS:

2014 taxes are to be prorated as of the closing date.

 

EASEMENTS AND LEASES:

Sale of said property is subject to any and all easements of record and any and all leases.

 

AGENCY:

Cates Auction & Realty Co., Inc. and its representatives are Exclusive Agents of the Seller.

 

BUYER’S PREMIUM:

A buyer’s premium of ten percent (10%) shall be added to the high bid and included in the total purchase price to be paid by the successful bidder(s).

 

BROKER PARTICIPATION:

A commission will be paid to any properly licensed Broker who registers a successful buyer according to the appropriate Broker Participation Agreement. This form is available from the Auction Company and must be completed and returned no later than 48 hours prior to the auction.

 

DISCLAIMERS AND ABSENCE OF WARRANTIES

The information in the auction advertising was obtained from sources believed to be accurate, but is subject to verification by all parties relying on it.  All sketches and dimensions are approximate.  No liability for its accuracy, errors or omissions is assumed by the Seller or the auction company. All bidders are responsible for conducting their own inspections, investigations, inquiries and due diligence concerning the property. The property is being offered on an “AS IS”, “WHERE IS” basis and no warranty or representations, expressed or implied, is made by the Seller or the auction company. All announcements made by the Auctioneer during the auction take precedence over any previously printed material or any other oral statements made. All information contained in the advertising and all related materials are subject to the terms and conditions outlined in the purchase agreement. Advertising may contain pictures of wildlife and other items that are for illustrative purposes only. The Auctioneer reserves the right to bid on behalf of the Seller up to, but not beyond the Seller’s reserve (if applicable). The Property is available for and subject to sale prior to auction.

 

I-35 to Armour Rd./MO-210, west to Erie St., north to address. 

Click on any image to view larger.

Click on any image to view larger.

Your auction should be printing now. If not, please click here.

AuctionServices
We are Kansas City's oldest and most experienced real estate auction company specializing in accelerated real estate sales in Missouri and Kansas, including Overland Park, Lenexa, Shawnee, Leawood, Kansas City, Lee's Summit, Olathe, Blue Springs, Independence, Liberty, Kearney, Parkville, Smithville, Gladstone, Clay County, Platte County, Jackson County, Johnson County, Wyandotte County, Leavenworth County, Cass County, Lake of the Ozarks, Lake Ozark, Sunrise Beach, Osage Beach, Four Seasons, Shawnee Bend, Miller County, Camden County, and around the Midwest. Kansas City auctioneers with regional expertise!