LOWER RESERVE Residential Commercial Income Real Estate Small Apartment Complex with Good Investment Cash Flow Start Price USD 449,900.00 Current Price USD 449,900.00 Time Left - Bid Count 0 Buy It Now Price - Reserve Price - Start Time Friday, September 12, 2008 End Time Sunday, October 12, 2008 Location Nampa, ID See more about 'LOWER RESERVE Residential Commercial Income Real Estate' Description STARTING BID:  $449,900 Or You can make us an offer! (To make us an offer call us at 208-899-2301 or 208-896-4444 or email us at sherry.ascent@gmail.com) Or You Can Buy This Today for $574,900 (To Buy Today call 208-899-2301  or email sherry.ascent@gmail.com) Originally Listed at $659,900 CASH COW!    WINNING BID IS FOR TOTAL PRICE OF ALL THREE PROPERTIES COMBINED!  This 8 Unit Apartment Complex is made up of 3 individual adjoining properties that have separate tax ID's and can be financed as Residential separately OR Commercial together.  (218, 218 1/2, 220 Delaware Avenue, Nampa, Idaho)   The three properties share a common driveway and parking lot.  There is one Duplex and 2 Triplexes that make up the Cottage Cove Apartments, 8 units total.  These buildings are in excellent condition and have been meticulously maintained.   With the three buildings close together they are easily maintained and looked after.  Two of the apartment interiors have just been completely redone, 3 others completely redone just last year with paint, carpet, and vinyl all replaced.    The rest were redone about 2 years ago.   Triplex units are renting for $525 - $550 and the Duplex units for $650.  The Duplex units (Approximately 800 square feet each) have 2 Bedrooms, 2 Baths and a grassy backyard area with patios and the Triplex units (Approximately 700 square feet each) are 2 Bedroom, 1 Bath, and end units have a small patio area.  All units are single level and have Central Heat and Air Conditioning, Stove, Refrigerator, Dishwasher, Disposal and Washer/Dryer Hookups.  No pets are allowed.  Exterior is maintenance free vinyl siding, roof is in great shape,  asphalt driveway and parking, Aluminum frame windows, entire complex is fenced, small lawn area and shrubs cared for by one of the tenants.  Maintenance free storage shed also included.  Quiet location.  Good renters. Nampa is an energetic growing community that has an agricultural base and a local Sugar Factory and a University as well as close proximity to the city of Boise and lots of active commercial construction to draw from for renters.  Due to the high quality of these units they offer very comfortable housing at a very affordable price for the tenants.  These units are close to shopping, churches and schools.  Apartments are only about 20 minutes from the Boise Airport. Click on "Map" to see Aerial View.  We own and manage these personally.  We have owned them for 5 years as income producing property and have other things we would like to move on to as a part of our original plan. Expenses:  Tenants pay for their own Electric, Gas and phone.  We pay for water, sewer, trash and irrigation water for the landscaping sprinkler system which comes to a total of about $150 a month for the entire complex (Not per unit).   Property Taxes by building:  218 1/2 Delaware  $2,298.10;  218 Delaware $2,984.58;  220 Delaware $3,042.76. Property is prequalified for Bank financing.  Partial Owner Carry may be possible. Email or call with questions:  Gerry Brown at 208-899-2301 or 208-896-4455 or gerry.ascent@gmail.com     Floor Plans and Site Layout available to your regular email address or fax. THIS IS A BINDING AUCTION - ALL BIDS ARE BINDING SERIOUS BIDDERS ONLY THIS IS NOT AN AUCTION FOR A DOWN PAYMENT.  YOUR BID IS FOR THE TOTAL PRICE FOR ALL THREE PROPERTIES COMBINED. Financial Details: WINNING BIDDER:  The successful final winning bidder (Buyer) must provide a non-refundable $500 deposit within 48 hours of the auction conclusion to secure their winning bid in the form of a cashiers check or money order (This will only be refundable if the appraised value does not equal or exceed the purchase price.  It will not be refundable due to buyer's failure to qualify for final financing or conclude the purchase).  This must also be accompanied by a letter of credit or letter of financing approval and a signed sales agreement with an attached copy of a $5,000 Earnest Money check that has been verified and deposited with an approved Idaho Title company and the funds held until completion of sale.  The Earnest money check alone will be refundable only in the following circumstances:  Final walk through inspection shows property to be not as presented of property does not appraise at a value equal to or greater than the purchase price. All monies will be applied toward the purchase of the properties.   Closing to be within 30 days of auction completion.   Buyers should inspect the property prior to bidding and are encouraged to hire a property inspector.  Seller will make himself available for showing/inspections by appointment.  Buyer is responsible for all due diligence.   Seller will provide clear title guaranteed with typical sellers title policy, seller will pay sellers typical closing costs.  Buyer to pay all buyers closing costs, any inspection and appraisal costs.   Buyers seeking financing should always expect to pay AT LEAST 25% - 30% down on non-owner occupied properties.   Any seller carry portions of the purchase will be on a case by case basis and must be negotiated in advance, documented in the sales agreement, will require a very large down payment, income verification and excellent credit rating.    Seller reserves the right to cancel all bids and remove the property from the auction listing early due to pre-sale.  All square footages are approximate and may vary somewhat.  Seller does not imply any warranty of properties or future rental income in any way.    Email gerry.ascent@gmail.com or call for showing/inspection appointments or with questions:  Gerry Brown  208-899-2301 (Cell)  or 208-896-4455   This property is offered for sale by the owner, any realtor or buyers with realtors please contact the seller in advance.        Place a Bid!