More Information
ONLINE ONLY REAL ESTATE AUCTION
Minimum Bid $320,000
or
Buy it Now for $359,000 (plus BP)
AUCTION DATE : Wednesday December 4th @ NOON
PROPERTY ADDRESS: 969 Nathaniel Rd Cleveland OH 44110
Cuyahoga County Parcel ID: 115-30-075
PLEASE READ BASIC TERMS BELOW PRIOR TO BIDDING
Description
A well maintained 5 unit apartment building with 4 - 3BR/1BA and 1 - 2BR/1BA units. All the units were completely renovated recently and occupied. Individual gas furnaces and tenants pay their own gas and electric. Landlord is responsible only for water, sewer and trash. All the units have hardwood floors. Ample parking space available with recently resurfaced lot. Has Security measures actively in place including cameras. Close to I-90 and Collinwood High school is few steps away. Solid brick building.
There is a sixth unit which is currently used as storage. If renovated, this unit can be another 3BR unit.
Lead certified by city of Cleveland.
Cap Rate 9-12% depending on final contract price
Net operating income is currently $37,173.
Lot Size: 0.18 Acres
Annual Taxes: $ 3,000 (approx)
Property Map
Basic Terms:
Real Estate sells subject to a minimum bid of $320,000. A 10% Non-Refundable deposit will be collected from the winning bidder the day of Auction no later than 5pm. Deposit instructions will be given to the winning bidder. The real estate is sold As Is with no contingencies. All inspections must be done prior to Auction. Close within 30 days. A 10% buyer's premium will be added to the high bid to obtain the final contract selling price. Short tax proration. The Buyer pays all closing costs. A marketable, insurable deed will be given at closing with no liens or back taxes.
Disclaimer & Legal Disclosure: Information contained herein was obtained from sources deemed reliable. However, neither Ohio Real Estate Auctions, LLC, Auctioneers, nor their agents will be responsible for any errors or omissions regarding information provided by same. Buyers should carefully verify all information and make their own decision as to the accuracy thereof before relying on same. In all reserve auctions, Seller & Seller’s agent’s are permitted to place bids as provided for in the Ohio Revised Code & the Uniform Commercial Code. This right is negated in the case of an absolute auction. All auctions are considered with reserve unless specifically presented as absolute.
Deposit and Closing:
Closing within 30 days using Nova title Agency. Susan Mannarino. smannarino@novatitleagency.com
Realtor Participation:
Realtor showings and cooperation are encouraged.For full compensation instructions, see and complete Realtor Registration form attachment. Please call Auctioneer to schedule all showings.