1-877-BID-OHIO (243-6446) 

Specializing in the sale of
Real Estate at Public Auction

26 Unit Apartment Buildings Regardless of Price

More Information

"ONLINE" REAL ESTATE AUCTION

(2) Stand-alone Highly Productive Apartment Buildings

(1) 14 UNIT & (1) 12 UNIT

****SELLS REGARDLESS OF PRICE WITH NO MINIMUM BID****

787 East Wilbeth Road & 811 East Wilbeth Road

Akron, Ohio

***By Order of Court Appointed Receiver, S.Hanes of Chikol ***

Online Bidding Ends, THURSDAY DECEMBER 7, 12:00 NOON

(Open House:  Monday, November 20,  Noon-1pm)

 

  • PROPERTIES SELL SEPARATELY...BUY ONE OR BUY BOTH
  • Income for 787 E. Wilbeth Road, Approximately $7,000 per month
  • Income for 811 E. Wilbeth Road, Approximately $6,000 per month
  • 1 Bedroom Apartments
  • Coin Operated Laundry in Basement of each building
  • The 811 E. Wilbeth Road building has Storage units in basement.
  • Tenant pays Electric & Units Have Electric baseboard heat, electric appliances.
  • Landlord pays water, sewer, and electric for common areas.
  • Each building has a gas hot water for the laundry.  The landlord pays that gas bill.
  • 787 E. Wilbeth averages about $800 per month for Water & Sewer, gas, electric for common areas, snow removal and lawn care costs according to Receiver who is now paying the bills.
  • 811 E. Wilbeth averages about $600 per month for Water & Sewer, gas, electric for common areas, snow removal and lawn care costs according to Receiver who is now paying the bills.
  • Rent Rolls available upon request.   All but one unit is rented.  Immediate Cash Flow!!
  • Tax Value of 787 E. Wilbeth:  $312,690:  Semi-Annual Taxes:  Approx $6,289.  + or -
  • Tax Value of 811 E. Wilbeth: $273,400:  Semi-Annual Taxes:  Approx  $6,469. + or  -

 Last purchase price was $810,000 for both properties in 2006. Auditor value for 787 is $312,690. Auditor value for 811 is $259,870. 

 

Annual Taxes: $ Aprox. $12,579 and $10,600


Property Map


LEAD AUCTIONEER

Steve Thompson
Email Steve

W: 937-609-6177


DIRECTIONS:

I-77 to E. on 224 to N. on Kelly Ave. to Left on E. Waterloo to Rt. on S. Arlington St. to Left on E. Wilbeth.


Basic Terms:

TERMS:  Prior to bidding, you must Directly deposit or wire $10,000 per property into the trust account of Ohio Real Estate Auctions.  Chase Account #: 988207114. (see attached wire instructions under the document section)  If you are NOT the successful bidder, your deposit will be returned within 48 hours.  Closing must take place within 30 days of court confirmation.   There will be an 8% Buyer's Premium in effect for this auction that will be added to the final bid in order to establish the contract selling price.  The properties are selling on an "As is, Where is" basis with NO warranties or guarantees of any kind. Taxes will be prorated wtih the short proration method.

Deposit and Closing:

Closing must occur within 30 days of court confirmation. The closing will take place with Nova Title Agency. jdyer@novatitleagency.com 440-600-5550

Realtor Participation:

No Realtor Co-op.

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