Upcoming Online Only Auction Of A Well Maintained
10 Unit Apartment Building With Garages!!
This Incredible opportunity is your once in lifetime chance to own prime investment property in Rock Valley, IA with HWY 18 Frontage!!! These apartments provide a unique opportunity that does not present itself often!!
This Auction Features A Well Maintained 2 Level Apartment Building With Several Updates & An Excellent Occupancy History!
Bidding Will Open On October 14, 2019
Bidding Will Close On October 29, 2019 @ 6:30 P.M.
Location: 920 18th Ave SE, Rock Valley, IA or from Pump N Pak in Rock Valley, IA go approx. 1 block East on HWY 18!! AUCTION SIGNS POSTED!!!!!
Please go to www.zomerbid.com to bid or click on the blinking button below to bid on the items!!
zomerauctions.com “The Real Estate Specialists”
Auctioneers Note: We are honored to have been selected to offer this excellent property for sale on an online only auction! Wilma has owned this property for over 25+ years and has decided to retire!! This apartment complex is one of the most well maintained properties that we have had the honor of selling!! To view this property please contact an agent or plan to attend the open house! This will be an online only auction with all bidding taking place on www.zomerbid.com
Abbreviated Legal Description: Lots 7 & 8 of Block 1 in Pageler Addition in Rock Valley, IA. Subject to all public easements and roads.
General Description: If you or your investment group are in the market for a new investment property opportunity then your wait is over!! This apartment complex features 10 apartment units and 9 garages. This building has 7—2 bedroom units and 3—1 bedroom units. Each unit has an open kitchen/living room area and 1 full bath. Each unit has a fridge and stove which will be included and all washers/dryers are owned by the tenants. Each unit has elec heat and a wall mounted a/c unit. This building and the garages had new roofs installed in 2007 and have newer cement board siding. The concrete parking lot was replaced in 2013. The garages had all new doors installed in 2005 and each garage has elec to the garage which is metered with its corresponding unit. This property is situated on an approx. 140’ x 178’ lot with excellent HWY 18 frontage. Each tenant is responsible for their own Mid American Elec and the landlord is responsible for the utilities on the common areas and the 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 had nearly a 100% occupancy rate for decades and offer a great return on investment!! This is an excellent opportunity to buy a high income producing property which has had excellent maintenance and has a lot of potential!! These units are well maintained with excellent HWY 18 frontage!! This property currently produces an average annual gross revenue of approx $58,750.00!!! Don’t miss this opportunity as apartments of this nature rarely come for sale!!
Taxes: The current Sioux County, IA Real Estate taxes are approx. $8,414.00 per year.
Open Houses: Open houses will be held on the property on Saturday, October 5, 2019 1:00 P.M. to 3:00 P.M. and on Thursday October 10, 2019 from 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: Full Possession of the property will be upon final payment of full balance. 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 $40,000.00 non–refundable down payment of purchase price will be due immediately following the auction. 50% of the total purchase price will be due on December 30, 2019 and the remaining 50% of the balance due on January 2, 2020. Sellers attorney will draft proper documents for seller to receive 50% of sale price in 2019 and the remaining 50% on January 2, 2020. 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). 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
Golden Valley Apartments–Owner
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
4,294 total views
- Listing Status: OnlineOnly
- Open House: October 5 from 1–3pm and October 10 from 5:30–7pm
- Address: 920 18th Ave SE Rock Valley IA 51247
- Siding Type: Cement Board
- Roof Type: Asphalt new in 2007
- Bedrooms: 7 (2) Bedrooms and 3 (1) Bedroom
- Year Built: 1973
- Furnace Type: Electric Heat
- A/C: Window AC Units only
- Property Tax: $8,592