2 May, 2024 11:33 pm
Income Producing Four Plex! For more information contact Terry Hoenig of Steffes at 319.385.2000 or 319.470.7120 (cell)
Online Only Real Estate Auction!
Fort Madison, Iowa
Located at 1025 Avenue D
Auction Opens: Thursday, Nov. 21st at 4:00 PM
Auction Closes: Wednesday, Dec. 5th at 4:00 PM
Open House on Wednesday, Nov. 21st at 4:00 PM – 5:00 PM
Fourplex Apartment Building with Detached Garage
Looking for an investment property within walking distance of downtown stores, parks, and restaurants? This 3680 square foot multifamily building hosts (4) large one bedroom apartments with private front and rear entries. Each apartment is equipped with an eat in kitchen including the electric stove and refrigerator, and enclosed front and back porch, (2) large adjoining living room/ family rooms, a large storage closet and an updated bathroom.
The building is equipped with hot water boiler heat, (2) large gas hot water heaters, with updated pex and PVC plumbing. The building has city water and trash service. Each apartment has it’s own electric meter. There is also a separate meter for the common areas.
Along with the fourplex is a detached 4 car garage with concrete floor. All situated on a 50’x145’ lot.
RENTAL INCOME: Units #1-3 currently rented with gross income of $1450 per month.
Unit #4 rents for $500 per month. This unit needs some minor repair prior to renting.
Included: Refrigerators, Stoves
Terms:10% down payment on December 5, 2018. Balance due at closing with a projected date of January 18,2019, upon delivery of merchantable abstract and deed and all objections have been met.
Possession: Projected date of January 18, 2019.
Real Estate Taxes: To be prorated to date of possession on the basis of the last available tax statement. Seller shall pay any unpaid real estate taxes payable in prior years.
Assessed Value: $66,680
Real Estate Taxes
Gross $2,095.71
Net $2,096.00
SPECIAL PROVISIONS:
Owner: Hoenig’s Rentals, Inc.
Closing & Representing Attorney – Richard Fehseke
Fehseke & Gray Law Offices
1023 Ave. G, Fort Madison, IA 52627, 319-372-7181
For more information contact auction manager
Terry Hoenig of Steffes
at 319.385.2000 or 319 319.470.7120 (cell)