ON-SITE AUCTION to be held December 3, 2010, at 1:30 pm at 209-217 Howland Ave. Racine, WI.
This 20 unit apartment complex is located at 209-217 Howland Avenue, Racine, Wisconsin, was built in 1927. It consists of 2 buildings, one 3 unit and the other 17 units. It also includes 3 detached garages. Rental units consist of 17-1 bedroom/1 bath @$425; 1-1 bedroom efficiency/1 bath @$385; 1-2 bedroom/1 bath @$550; 1- 3 bedroom/1 bath @ $650 all rental rates are per month. This generates positive cash flow with over 80% of the units rented. Appliances are included with every apartment, mini-blinds on all windows, ceiling fans in the living room, new carpeting in the living rooms and bedrooms. About 80 percent of the apartments have new kitchens that include cabinets, counter tops, sinks, faucets, and have new bathrooms. The building has a new rubberized roof and electrical service including individual meters. There is a laundry room with two sets of washers and dryers (building owned), with room for another set, an office and a storage room for maintenance tools and supplies. All tenants are on an annual lease. Tenants pay for all gas (heat and cooking) and electric (lights and hot water) for their apartments. Owner pays for common area electric, sewer, garbage and water.
Be sure and read the Auction Terms & Conditions at www.milleronlineauctions.com web site for this auction. Be sure you understand Multi-Par Auctions. If not contact Miller Land & Livestock, Co. at auction@execpc.com or 1-608-524-0365
This is an Pre bid ON-LINE auction for pre-bidding as a Multi-Parcel. The highest selling combination of parcels or the whole if it is the highest selling bid will be the bid accepted. The seller has four days in order to accept or decline the highest bids.
If not sold ON-LINE, Live ON-SITE auction to be bid December 4, 2010 at 1:30 pm.
Your high bid here will be held used to start the bidding at the live on site auction on December 3, 2009 at 1:30 pm. If no bids are higher at the on site auction, if your bid meets the reserve then you will have won the auction. If you bid does not meet the reserve then the seller has the right to reject or accept your bid.
This on site auction will be a Multi-Parcel as well. Selling using the Multi-Parcel Computer System. It will be offered as one parcel whole, The smaller three unit, and the larger 17 unit. Which ever parcel or combonation of parcels brings the highest bid will be the way the auction will be closed. This will be sold with reserve. If interested in the on site multi parcel please contact us in advance.
