AUCTION DETAILS
Sells: Tuesday, December 3, 2024 at 11:00 a.m. (EST)
Online Auction: via Zoom (only those who qualify to bid will receive a link to the Auction Sale)
Bid Deadline: Monday, December 2, 2024 @ 5:00 p.m. (EST)
Opening Bid: $1,700,000
Required Deposit: Wire or Bank/Cashier's Check in the amount of $170,000 made payable to “Gary O. Ravert, as Escrowee”.
Buyer’s Premium: Six Percent (6%)
Bid Qualifications: To participate in the Auction Sale, by the Bid Deadline, each prospective bidder must: (i) register with MYC; (ii) deliver to MYC the original signed Auction Sale Procedures; and (iii) tender the Required Deposit. The Auction Registration Form and the Auction Sale Procedures can be found in the 'Download' section which is below.
property details
Neighborhood: Astoria
Lot: 25' X 100' or 2,500 SF
Retail: +/-1,200 Leasable SF
Residential: Four (4) Units: All 2 Bed/1 Bath Units
Living Space: +/- 2,825 Total SF of Residential Living Space
Total SF: +/- 4,025 SF
Tenancy Status
The retail unit and one (1) residential unit will be delivered vacant by closing. The three (3) remaining units will be delivered occupied and the tenants are all month-to-month.
Monthly Income
$5,000, Retail Unit (Projected)
$2,500, Unit 1F (Projected)
$2,100, Unit 1R (Actual)
$2,100, Unit 2F (Actual)
$2,100, Unit 2R (Actual)
$13,800 Total
Financials
$165,600 Yearly Income
($22,881) Real Estate Taxes
($7,000) Insurance
($1,200) Common Area Electric
($6,000) Heat/Hot Water
($3,600) Water/Sewer
($3,200) Misc. Repairs/Maintenance
($43,881) Total Expenses
$121,719, Projected Net Operating Income
DISCLAIMER
All information provided by MYC & Associates, Inc. is from public documents or third-party sources, is not guaranteed and should be independently verified. The information herein is subject to errors and omissions. The subject property may be sold or withdrawn from the market without notice. MYC & Associates, Inc. does not represent or warrant the accuracy, authenticity, or completeness of any information and is not liable for any reliance thereon.
