June 5, 2018 Starting At 6:30 P.M.—Online Only Auction Of 2 Seperate 4 Unit Apartment Buildings–To Be Sold Separately–These Buildings Have Recently Had Several Updates & Are Very Well Maintained! These Buildings Have A Nearly 100% Occupancy Rate And Offer A Great Return On Investment—Oakwood Rentals Inc.–Owners

 

Upcoming Online Only Auction Of

2—4 Plex Apartment Buildings!!

This Incredible opportunity is your once in a lifetime chance to own prime investment property in Rock Valley, IA!!! These apartments provide a unique opportunity that does not present itself often!!

This Auction will feature two separate apartment buildings with the opportunity to add a third in the future!!!

Do not hesitate to call today about this unique opportunity!

Bidding Will Close On June 5, 2018

West Apartment Building Will Close At 6:30 P.M.

North Apartment Building Will Close At 7:15 P.M.

Location: 1115 21st Ave. Rock Valley, IA or directly West of Premier Bank in Rock Valley or from Pump N Pak in Rock Valley, IA go 3/4 mile East to 21st Ave and then Go ¾ Block North. Apartments are located on the West side of the road. AUCTION SIGNS POSTED!!!!! Go to www.zomerbid.com to register to bid!!!

 

‚Äčzomerauctions.com " The Real Estate Specialists"

Vande Vegte Zomer Realty & Online Bidding

 

Auctioneers Note: We are honored to offer these apartment buildings for sale for Oakwood Rentals Inc.. As one of the shareholders of Oakwood Rentals Inc is nearing retirement they have decided to offer this excellent income producing property to the public at auction. These apartments are in excellent condition and have recently had several updates to the buildings and each apartment unit!! Contact an agent today for more details on this unique opportunity!

 

Abbreviated Legal Description Of Apartment Building #1(West Building): Parcel B in Lot 48 of Oakwood Addion, City Of Rock Valley, Sioux County, IA.The owner of property #1(Parcel B) will grant a permanent driveway easement to the owner of property #2(Parcel C) and owner of adjoining property described as a part of Lot 13 Railroad Addition, warranty deed 2002-2618 in the City Of Rock Valley, Sioux County, IA. For easement details contact agents.

 

General Description Of Apartment Building #1(West Building): If you or your investment group are in the market for a new investment property opportunity then your wait is over!! This apartment building features 4 units. Each unit has two bedrooms, one bath w/tub/shower, living room, kitchen and dining area. Each unit has elec heat and wall unit a/c. Each apt unit has its own range/oven, hood/fan, & refrigerator which are owned/maintained by the landlord and will be included with the purchase price. Each unit has Gerkin sliding windows and 100 amp elec. Boxes. This building has one set of a coin operated washer & dryer which services all four apartments in the building. This building also has one 89 gallon water heater which services all 4 apt units. This building has also recently undergone several updates including a new steel roof in 2013. The exterior of this building was also recently updated in approx 2010/2011 with vinyl siding. Each apt unit is metered separately in addition to the laundry and common hallway. Each tenant is responsible for paying their unis Mid America electric. The landlord is responsible for paying the utilities on the common entry, laundry area, water, sewer and garbage. Sellers will convey current rent deposits to buyer at time of closing. Rents will be pro-rated to the date of closing. Property #1 also provides a unique opportunity with the space to add an additional apt building in the future if the buyer desired. These apartments have nearly a 100% occupancy rate and offer a great return on investment!! These units are very well maintained!!

Abbreviated Legal Description Of Apartment Building #2(North Building): Parcel C in Lot 48 of Oakwood Addion, City Of Rock Valley, Sioux County, IA.

General Description Of Apartment Building #2(North Building): ): If you or your investment group are in the market for a new investment property opportunity then your wait is over!! This apartment building features 4 units. Each unit has two bedrooms, one bath w/tub/shower, living room, kitchen and dining area. Each unit has elec heat and wall unit a/c. Each apt unit has its own range/oven, hood/fan, & refrigerator which are owned/maintained by the landlord and will be included with the purchase price. Each unit has Gerkin sliding windows and 100 amp elec. Boxes. This building has one set of a coin operated washer & dryer which services all four apartments in the building. This building also has one 89 gallon water heater which services all 4 apt units. This building has also recently undergone several updates including a new steel roof in 2013. The exterior of this building was also recently updated in approx 2010/2011 with vinyl siding. Each apt unit is metered separately in addition to the laundry and common hallway. Each tenant is responsible for paying their units Mid America electric. The landlord is responsible for paying the utilities on the common entry, laundry area, water, sewer, and garbage. Sellers will convey current rent deposits to buyer at time of closing. Rents will be pro-rated to the date of closing. These apartments have nearly a 100% occupancy rate and offer a great return on investment!!

Taxes: The current combined Real Estate Taxes of both buildings according to the Sioux County Treasurer currently are estimated to be approx. $6,701.00 per year. Taxes will be prorated to date of closing.

Open Houses: Open houses will be held on the property on Saturday May 5, 2018 10:00 A.M. to 12:00 P.M. and on Tuesday May 8, 2018 5:30 P.M.to 7:00 P.M. or by appointment by contacting one of the agents listed below. Video of all apt. units is available by contacting one of the agents listed below.

Possession: Possession of the building and lot will be upon closing day July 10, 2018. Possession of each unit will be subject to current tenants lease.

Terms: The buyer(s) will agree to enter into purchase agreement with these terms. A $25,000.00 per property non–refundable down payment will be due immediately following the auction with balance due on closing day on or before July 10, 2018. Buyer agrees to accommodate sellers with a 1031 exchange.This property is being sold as a cash sale with no finance contingencies. Full payment will be due and payable on closing day when clear and merchantable title will be given to the buyer(s). Buyers agree that all snow removal costs on parking lot & driveway area will be shared cost between owner of property #1 & #2. This property is being sold as is where is with all defects and no warranties expressed or implied. All measurements, acres and square footages are based off assessor’s information. Although all information is deemed reliable, all buyer(s) are encouraged to inspect the property and verify any information.  The Sale is subject to the confirmation of the sellers. Auctioneers and Agents are representing the sellers in this transaction. Any announcements posted day of auction will supersede any advertising.-Don Klein—sellers attorney

 

Auctioneers/Agents:

Mark Zomer-712-470-2526—Darrell Vande Vegte-712-726-3428–   Gary Vanden Berg-712-470-2068

—Ryan Zomer-712-441-3970—Blake Zomer-712-460-2552

 

 

 

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  • Listing Status: OnlineOnly 
  • Open House: Saturday May 5, 2018 from 10:00 A.M.–12:00 P.M. and on Tuesday May 8, 2018 from 5:30–7:00 P.M. 
  • Address: 1115 21st Ave, Rock Valley, IA 51247, USA 
  • Siding Type: vinyl––new in 2010/2011 
  • Roof Type: steel––new in 2013 
  • Bedrooms: 2–– in each unit 
  • Bathrooms: 1––in each unit 
  • Kitchen: 10.5–11.7 
  • Living Room: 11x12.10 
  • Master Bedroom: 10.4x11.5 
  • Bedroom #2: 8.11x11.3 
  • Main Floor Bathroom: 4.11x8 w/tub/shower 
  • Laundry/Utility: common laundry 
  • Furnace Type: Electric Baseboard Heat 
  • A/C: window a/c