***Online Bidding at: Oresy.com*** Bank Owned Property! Starting bid: $249,000.A BUYER'S PREMIUM OF TWO PERCENT (2%) OF THE SUCCESSFUL BID WILL BE USED TO ESTABLISH THE FINAL CONTRACT PRICE BY ADDING THE PREMIUM TO THE SUCCESSFUL BID.Bidding ends on April 25. 2012, at 9:00 AM Pacific time.The winning bid is required to submit a purchase contract within 24 hours from the time of acceptance of the highest bid.Highest bid subject to seller approval!Description:The property is an 8,968-SF mixed-use project with a retail building and 9 detached single family residences ("cottages"). The improvements were built in the 1950s and 1960s. The retail units (two downstairs that are 2,554 SF and 555 SF and a 1,390-SF unit upstairs) are located at the front of the site and are in one building. There are also eight residential cottages ranging in size from 224 SF to 620 SF, and a ninth 3-bedroom residential unit that is 1,953 SF and is 2-story. The units have propane stoves, water heaters, and wall heaters, as well as fireplaces in residential units.The site is located at the terminus of a T-intersection of Highway 234 and Highway 74 in Mountain Center, CA. The site can be located in the Riverside County Thomas Guide on page 844, Grid B5.Mountain Center is within the sphere of influence of Idyllwild within Riverside County and the San Bernardino National Forest. This rural community is located about 25 miles east of Hemet, 22 miles south of Banning, 47 miles west of Palm Springs, and 100 miles southeast of Los Angeles (driving distances). It is primarily a bedroom community and tourist town, but there are many small businesses and some industry. Major landmarks include the San Jacinto Mountains, in which the town is located. This mountain range is the second highest in Southern California, with Mount San Jacinto rising 10,834 feet above sea level. The area is popular with hikers, mountain bikers, and climbers.Listing broker:Grubb and EllisCA License : 00575633
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