Three 6-Unit Brick Apartment Buildings (CORRECTED # OF BDRM 12/28)

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Additional Documents

• How To Bid - Real Estate
• Louisville Apartment Cash Flow.pdf

Absolute auction, all sells to the highest bidder(s).

121 Chapel Ridge St., Louisville, OH 44641

Directions: From US-62 take SR-44 south towards Louisville. Turn east on Chapel Ridge St. to auction. Watch for KIKO signs.

REAL ESTATE:

Auction #1: 121 Chapel Ridge St.: Parcel #3602511 - Brick 6-unit apartment building built in 1975. Situated on .41-acre lot. Building is 3,960 SF. (CORRECTED 12/28) (2) 2-bed, 1-bath units and (4) 1-bed, 1-bath units. Total rent is currently $2,685/mo.

Auction #2: 1275 Fairlawn St.: Parcel #3602512 - Brick 6-unit apartment building built in 1975. Situated on .41-acre lot. Building is 3,960 SF. (CORRECTED 12/28) (2) 2-bed, 1-bath units and (4) 1-bed, 1-bath units. Building also has basement space which was previously used for laundry. Total rent is currently $2,835/mo.

Auction #3: 1285 Fairlawn St.: Parcel #3602513 - Brick 6-unit apartment building built in 1975. Situated on .42-acre lot. Building is 3,960 SF. (CORRECTED 12/28) (2) 2-bed, 1-bath units and (4) 1-bed, 1-bath units. Total rent is currently $2,865/mo.

ADDITIONAL INFORMATION ON ALL: Each unit has direct outside access, uppers having a deck and lowers having a porch. Kitchens complete with appliances. Off road carport parking for each unit with new asphalt driveway in the past year. Tenant responsible for electric, phone, cable, and internet. Water, sewer, trash, lawn care, and snow removal included in rent.

AUCTIONEERS NOTE: Good rental history and very well-maintained units. Current gross annual income is approx. $100,000 with rents averaging $466/mo. Rents can be raised to market level for additional income.

Open house 10:30 AM day of auction.

10% down auction day, balance due at closing. A 10% buyer’s premium will be added to the highest bid to establish the purchase price. Any desired inspections must be made prior to bidding. All information contained herein was derived from sources believed to be correct. Information is believed to be accurate but not guaranteed. Property to be sold as Separate Parcels, Bidder’s Choice, and not to be offered as an Entirety.

Patricia A. Kiko Family Trust

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