Property offered at ONLINE ONLY auction. BIDDING OPENS: Tuesday, August 31st, 2021 at 2:00 PM (cst) | BIDDING CLOSES: Thursday, September 16th, 2021 at 3:00 PM) (cst). Bidding will remain open on this property until 1 minute has passed without receiving a bid. Property available to preview by appointment. CLEAR TITLE AT CLOSING, NO BACK TAXES. ONLINE ONLY!!! Offering a 34 unit apartment complex located near the corner of Harry and Oliver! This property sits across the street from Clapp Memorial Park, offering you a nice scenic view. There are (24) 2 bedroom units and (10) 3 bedroom units, providing you a total possible monthly income of over $21,000. Currently, all of the units are tenant-occupied except for five units. 4 buildings with a total square footage of 31,750 On 1.52 Acres On-site parking Built-in 1983 Located just a few miles from Downtown Wichita Tenants pay all utilities except for trash removal All upper units have a balcony with all the main floor units having a patio area Separate laundry room off the kitchen with washer & dryer hookups Galley style kitchen Kitchen/dining combination Each unit has 2 bathrooms, one with a tub/shower combination and one with a walk-in shower A lot of the units have been updated Current monthly income is $19,013.33 with an annual income of $228,156.00 A total of $13,700.00 in security deposits Although many of the long-term tenants have lower rents, the more current rent has been $750 for a 3 bedroom and $650 for a 2 bedroom. Current rental rates when calculated throughout all the units would provide a realistic future potential in excess of $270,000 per year Unbelievable investment opportunity to purchase the Golf Park Apartments!!! $100,000 anticipates closing on or before 30 days from the date of sale. A 45-day close is available at the discretion of the purchaser with a deposit of $150,000 in earnest money at the time of contracting. *Buyer should verify school assignments as they are subject to change. The real estate is offered at public auction in its present, “as is where is” condition and is accepted by the buyer without any expressed or implied warranties or representations from the seller or seller’s agents. It is incumbent upon buyer to exercise buyer’s own due diligence, investigation, and evaluation of suitability of use for the real estate prior to bidding. It is buyer’s responsibility to have any and all desired inspections completed prior to bidding including, but not limited to, the following: roof; structure; termite; environmental; survey; encroachments; groundwater; flood designation; presence of lead-based paint or lead based paint hazards; presence of radon; presence of asbestos; presence of mold; electrical; appliances; heating; air conditioning; mechanical; plumbing (including water well, septic, or lagoon compliance); sex offender registry information; flight patterns, or any other desired inspection. Any information provided or to be provided by seller or seller’s agents was obtained from a variety of sources and neither seller nor seller’s agents have made any independent investigation or verification of such information and make no representation as to the accuracy or completeness of such information. Auction announcements take precedence over anything previously stated or printed. Total purchase price will include a 10% buyer’s premium ($1,500.00 minimum) added to the final bid. Property available to preview by appointment. Earnest money is due from the high bidder at the auction in the form of cash, check, or immediately available, certified funds in the amount of $100,000 anticipates closing on or before 30 days from the date of sale. A 45-day close is available at the discretion of the purchaser with a deposit of $150,000 in earnest money at the time of contracting.
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