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Commercial Rental Investment Property For Sale At Auction. East St Louis, Illinois IL

  Status: Closed
 
This auction has closed

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Type:

Internet-only (timed) auction

By:

Fisher Auctions

  Web
At:

1905 Bond Ave, East St Louis, Illinois, 62207. USA. tel: 480-593-5379

Started:
29th Jan, 2021
Ended: 1st Mar, 2021
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Patriot Auctions proudly presents this beautiful commercial rental investment opportunity for sale in East St Louis, IL! You have the opportunity to purchase an income producing apartment building for sale.The building was built in 1955 has a total of 3,805 square feet of space and 6 units. 12 Bedrooms 6 Bathrooms. The building is on town water and sewer. Interior flooring consists of carpet and vinyl and hardwood.Beautiful 12 Bedroom 6 Bathroom Commercial property for sale. Yearly taxes of $2918. There are no comparable properties in the area, 3 miles from the city of St. Louis, one of a kind great investment property. What is 6 rents really worth to you? Why earn only one set of rents when you could collect on 6? What could $6,000 a month do for you and your business/ family/ legacy? Located at 1905 Bond Ave, this property is 3.5 miles from The Dome at Americas Center as well as the Saint Louis Cardinal's playing at Busch Stadium. They hold Concerts, NHL, Baseball, NFL, Hockey, Conventions, Baseball, etc. Air bnb selling for $150+ on an average night. Local rent average for a 2 bed 1 bath apartment at $800, if you upgraded the kitchen could support $1050 a month per apartment.It can easily be turned into section 8 housing which is a guaranteed check from the government every month for each aprartment.FHA loans, which this property qualifies for, that only require 3.5% down, plus FHA loans are backed by the government. There is the medical school at St Louis University close by that you could accommodate as well. Endless possibilities! Replacement cost on a building of this size today would be $1.2 million+. Start earning money on your investment TODAY.Bid Online Now - Online bidding is now active and runs through Thursday March 1st 2021 @ 4 PM General Terms and Conditions - Winning Bidders will place a 15% deposit as a non-refundable down payment in the form of a good check, cash, or wire transfer no later than 24 hours from the close of this auction. Also, to sign a purchase and sale agreement. The seller will also accept offers and accepts financing as well. To make an offer we can be reached at 480-593-5379, Wendy. Property sold as is where is any and all faults. Buyer is expected to complete their own due diligence. Property is being sold by Online Only Auction with a SOFT CLOSE. Auction starts ending at 4pm on February 28th, 2021. Please note that during the last three minutes of bidding, if a new bid is placed, the clock is automatically extended an additional three minutes. Auction ends once bidding ends.

Lot 1
 
Closed

12 Bedroom 6 Bathroom Commercial Apartment

Building For Sale Patriot Auctions proudly presents this beautiful commercial rental investment opportunity for sale in East St...