Apartment Building in Midwest Ohio Investment Property 12-Unit Building No Reserve in Historic Dayton View Start Price USD 1,000.00 Current Price USD 30,310.00 Time Left - Bid Count 41 Buy It Now Price - Reserve Price - Start Time Monday, June 23, 2008 End Time Wednesday, July 23, 2008 Location Dayton, Ohio See more about 'Apartment Building in Midwest Ohio Investment Property' Description   Very Nice Historic - 12 unit Apartment Building! !! Absolute Auction !! No Reserve Highest Bid Wins Fantastic Location Historic Dayton View Area Only Four Blocks from Good Samaritan Hospital About two miles from Downtown Dayton Ohio Near Major Highways shopping schools and employment centers Close to University of Dayton and Wright State University !! Great Cash Flow Investment !! Now is a great time to Invest in Real Estate while properties are way below market value! About the Property: This property has a city assessed value of $190000.00 the taxes are 6500.00 per year. This is a 2-Story apartment Building with a full basement. This building has been vacant now for 5 years due to previous owners neglect of maintenance. A new roof was installed in 2007 and has a 15 year warranty. Type: Rubber Flat cost $30000.00. The building has been winterized every winter. The Electrical Plumbing Heating systems failed to meet code in 1999. New electrical panels have been installed but the wiring needs to be run. For a breakdown of what this building would cost to restore I have had contractors come out and bid. These are the best prices. After many suggestions and meetings with building professionals it is determined that this project has to be considered as a new construction. You can not finance a 12-unit apartment building that is not occupied. You can work on finishing one floor at a time to establish cash flow. Here is a suggested plan: Remove all drywall from walls and ceilings $4000.00 Run all new electrical service from box to units $7000.00 Electrical Materials switches receptacles wiring lights/fans $3000.00 Run new Plumbing to all units $6500.00 Plumbing Materials sinksfaucetstoiletscabinets $5000.00 Inspections/Permits Electrical/Plumbing/Roof $500.00 Insulation Labor $2000.00 Insulation Material $1800.00 Drywall Labor $4000.00 Drywall Materials $1200.00 Air Conditioning Consultant $300.00 Plan for central air Commercial Hotwater Heater 2 Parts & Labor $2500.00 Heat & AC Ducting $1200.00 Furnace Inspection & Repair $4000.00 Carpet & Vinyl Labor $3500.00 Carpet & Vinyl Materials $4500.00 Doors & Window Repair/Replace $9000.00 Finish Carpenter trim work 2500.00 Landscaping $2000.00 Total of Estimates $64,500.00 You may already know of someone whom could do this work for you and save money but these were a compilation of estimates that I obtained to help you to make an informed decision. This is an Outstanding Investment opportunity don’t get left behind. We reserve the right to end the auction early. If an attractive offer comes in I will do my best to ensure the top 3 bidders are contacted to inform them. This building will sell regardless of cost. My loss is your gain. Don’t pass on this one. You can call and schedule a visit/ walkthrough anytime. I have a representative ready to allow access to the building from 8:00 am to 6:00pm Monday to Saturday. Buyer is responsible to pay the closing cost. My plan and contacts are not included but could be negotiated. This is a privately owned property. About Dayton Ohio About Dayton Ohio is a city in southwestern Ohio United States. It is the county seat and largest city of Montgomery County. As of the 2006 census estimate the population of Dayton was 156771. The Dayton Metropolitan Statistical Area which includes Montgomery Miami Greene and Preble counties had a population of 835537 as of 2007. Dayton is situated within the Miami Valley region of Ohio just north of the Cincinnati metropolitan area. Dayton is expected to merge with the Cincinnati Metropolitan area due to Cincinnati's growth northward into the Miami Valley. This will form the Cincinnati-Dayton Metroplex. The estimated 2010 population will exceed 3 million and will rank as the 15th most populated combined statistical area in the U.S. Dayton plays host to significant industrial aerospace and technological/engineering research activity and is known for the many technical innovations and inventions developed there. The city was the home of the signing of the Dayton Peace Accords which brought an end to the war in Bosnia. The Wright brothers poet Paul Laurence Dunbar and entrepreneur John H. Patterson were born in Dayton. The Dayton area is home to several major international national and regional corporations including NCR Reynolds & Reynolds ChemStation International Liberty Bank NewPage Corporation Standard Register WorkflowOne formerly Relizon Huffy Bicycles LexisNexis and Mead prior to becoming MeadWestvaco. About the Neighborhood Click here to take a virtual tour of the neighborhood This property is located on a very busy high traffic and visible residential street where the homes are well maintained and in good condition. The residents take pride in their homes and there is also strong investment activity in the area. Additionally many of the homes in the surrounding area have been renovated which has increased the value of these and the surrounding homes. This property is conveniently located near shopping schools attractions and major employment centers. The property is close to Good Samaritan Hospital Grandview Medical Center Hospital and Southview Hospital making this a convenient location for nurses and medical professionals who want a short commute. The home is centrally located within a few miles of several major universities and colleges in and near Dayton including The University of Dayton Wright State University Indiana Wesleyan University and Central State University making this a convenient location for professors and students alike. For golfers the property is near Miami Valley Golf Club Madden Park Golf Course and Kittyhawk Golf Club. Additionally there are 36 churches all within a mile of the home a strong testament to the strength and character of the neighborhood. Route 75 and route 35 both major highways are easily accessible and within close proximity from the property. This is a ready to restore 12-unit apartment building. The floorplan has been modified to accommodate 8 roomy apartments. The new owner could easily convert it back to 12-units if desired. The tenants pay for their electric and the owner pays for gas and water. The projected rents in this area are 300/375/450 for efficiences/1Br/2Br units. Each apartment has one or two bedroom one full bathroom living room and kitchen. The building has been cleaned and ready renovate. Each apartment thoroughly cleaned and ready for your dream plan. New entrance doors were installed on all units. This property has great cash flow potential. All units are ready to be renovated. Average one bedroom apartment rents in the area are $375 per month. Tenants are also responsible for paying their own electric bills. This property is located only four blocks from the new Post Office and Good Sam hospital. These apartments can be marketed to doctors nurses or hospital residents that work near by. Financing is not being considered at this time we are attempting to settle a debt. The lowest cash offer will bemore attractive than the highest financed offer. Owner financing is totally out of the question. If you have financing approved already I will consider it with a cash down payment commitment. This property is a very wise and sound investment. Auction notes: - Bidders with a feedback less than 3 will not be accepted.  This is necessary to prevent deadbeat bidders. - All questions must be asked before auction ends.  - Please do your due dillegence and verify all information.On Jun-28-08 at 13:23:16 PDT, seller added the following information: The title will be free of any liens. If you have any questions, you can hit the "ask the seller a question" link or call me Sam at 206-954-0452. If you would like to see the building in person, please call Reggie at 937-474-6266. Please only bid if you are serious about buying. If you are unable to bid because you do not have a paypal account, please send me a message and I can remove the block.  On Jun-30-08 at 12:08:54 PDT, seller added the following information: On Jun-30-08 at 16:30:12 PDT, seller added the following information: On Jul-01-08 at 10:44:12 PDT, seller added the following information:Please follow the link below for more pictures of the building. http://www.crackwhip.com/~sam/auctionupdate.htm  On Jul-18-08 at 10:52:19 PDT, seller added the following information:Some people have been allowed to bid even though their feedback is less than 3.  This is because they have messaged me or called me ahead of time and asked to be put on the exception list.  If you have low feedback and wish to be added to the exception list as well, email or call me. Please watch this video I just uploaded.  It is a very short clip showing the building. http://www.youtube.com/watch?v=tc0WDm4DsVQ  On Jul-18-08 at 17:34:42 PDT, seller added the following information:I have some video showing the interior of the building. It looks pretty good and I wish I regret having to sell the building. http://www.youtube.com/watch?v=o9I_oG0L3Bc http://www.youtube.com/watch?v=MNCTgtSKBB4 http://www.youtube.com/watch?v=rCfmNel80PE Place a Bid!