Multiple properties will be offered, including 5 acre lots along Lake Odessa! For information contact Steffes Group; Nate Larson, 319.931.3944 or Jerry Roth, 319.750.3269

LOUISA COUNTY, IOWA REAL ESTATE AUCTION

 

WAPELLO, IOWA

Large Real Estate Auction – 7 Tracts

2 Lake Odessa Lots

3 Single & Multi Family Homes

2 Contracts for Deeds

 

THURSDAY, NOVEMBER 5, 2020 at 2PM


Real Estate Auction will be held at the Charles W Briggs Civic Center, 317 Water Street, Wapello, Iowa.

Open Houses on Wednesday, October 28th  

Viewing times as follows:
Tracts 1-2 – View on your own
Tracts 3-5 from 1-2PM
Tracts 6-7 from 2-3PM

Auctioneer’s Note:  Here is your chance to get into the rental market, as Von & Kathy Smith are liquidating 5 rental properties. Having sold their Lake Odessa home, they will also sell 2 lots on Lake Odessa.
This is an auction you will not want to miss. 

 

Selling choice of Tracts 1 & 2, whereas the high bidder may take Tract 1 or Tract 2, or both Tracts, for their high bid.
This will continue until both Tracts are sold. Then selling choice of Tracts 3-7, whereas the high bidder may take any Tract or combination of Tracts, in any order for their high bid. This will continue until Tracts 3-7 are sold.
Tracts will not be recombined.

 


Lake Odessa Lots!

10.22 acres M/L – Sells in 2 Tracts. 
Make this your getaway place on Lake Odessa! Potential building sites overlooking Lake Odessa. Located off of E Avenue.

Tract #1– 5.09 Acres M/L on Lake Odessa
Tax parcel: 0928378000

Real Estate Taxes
Net                  $0.00 (Forest Reserve)


Tract #2
– 5.13 Acres M/L on Lake Odessa
Tax parcel: 0928308000

Real Estate Taxes
Net                  $0.00 (Forest Reserve)

 


Rental Homes!

Tract #3 – 418 Franklin Street, Wapello, Iowa

Two story duplex offering a main level apartment with 2 bedrooms, 1 ½ baths and an upper level apartment with 2 bedrooms and 1 ½ baths. A detached 1 ½ car garage that is 17’x22’. All situated on a 74’x149’ lot. The main level is currently rented for $600 per month, on a month to month basis. The upper level is currently rented for $565 per month, on a month to month basis.

Not Included: Tenant’s appliances & personal property

Assessed Value: $78,790

Real Estate Taxes
Gross/Net: $1,618


Tract #4
 – 702 South 4th Street, Wapello, Iowa

One story home offering 3 bedrooms, 1 bath, 600 sq.ft. of living space, situated on a 60’x105’ corner lot. This home is currently rented for $475 per month, on a month to month basis.

Not Included: Tenant’s appliances & personal property

Assessed Value: $30,820

Real Estate Taxes
Gross/Net $632.00


Tract #5
 – 402 South 2nd Street, Wapello, Iowa

One story home offering 2 bedrooms, bath, 560 sq.ft. of living space, situated on a 74’x149’ lot. This home is currently rented for $600 per month, with a lease in place and expiring June 2021.

Not Included: Tenant’s appliances & personal property

Assessed Value: $31,300

Real Estate Taxes
Gross/Net $642.00

 


Selling Contract for Deed Notes

Tracts 6 & 7 have been sold on contract.  We will be selling the Contract for Deed Notes on Tracts 6 & 7. See SteffesGroup.com or copies of real estate contracts.


Tract #6
 – 519 North 2nd Street, Wapello, Iowa

The contract dated April 9, 2010 with $58,500 amortized over 20 years, interest rate of 9.0% and payment of $526.34/month. Balloon payment was due April 1, 2013, Seller has continued carrying the note. This contract note is not current.

Two story home offering 3 bedrooms, 1 bath, 1,372 sq.ft. of living space, detached 12’x44’ garage, situated on a 61’x110’ & 30’x149’ lot.

Not Included: Tenant’s appliances & personal property

Assessed Value: $44,010

Real Estate Taxes
Gross/Net $904.00

 

Tract #7 – 514 North 2nd Street, Wapello, Iowa

The contract is $40,000 amortized over 20 years, interest rate of 9.0% and payment of $365/month.

One story home offering 3 bedrooms, 1 bath, 676 sq.ft. of living space, detached garage, situated on a 58’x149’ lot. 

Not Included: Tenant’s appliances & personal property

Assessed Value: $24,150

Real Estate Taxes
Gross/Net $496.00

 

Terms:10% down payment on November 5, 2020. Balance due at closing with a projected date of December 21, 2020, upon delivery of merchantable abstract and deed and all objections have been met.

Possession: Projected date of December 21, 2020 (Subject to tenant’s rights).

Real Estate Taxes: To be prorated to date of possession based on the last available tax statement.  Seller shall pay any unpaid real estate taxes payable in prior years.

 


Special Provisions:

 

Don’t miss out on the Timed Online Personal Property Auction
with Petroleum Memorabilia & Antiques
,
also selling at auction on November 6 at 1PM – Check it out Here!

 

Von & Kathy Smith

David L. Mathews – Attorney for Seller

For information contact Nate Larson at Steffes Group, 319.385.2000 or 319.931.3944


Lot #: 1

in: Other

Lot #: 2

in: Other

Lot #: 3

in: Residential

Lot #: 4

in: Residential

Lot #: 5

in: Residential

Lot #: 6

in: Residential

Lot #: 7

in: Residential

Photo Gallery

Tract 1 5 09 Acres M l 1 JPG Tract 2 5 13 Acres M l 1 JPG Tract 3 Two Story Duplex 1 JPG Tract 4 One Story Home 1 JPG Tract 5 One Story Home 1 JPG Tract 6 Two Story Home 1 JPG Tract 7 One Story Home 1 JPG

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