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(6) COURT ORDERED ABSOLUTE REAL ESTATE AUCTIONS ~ Hot Springs, AR

Date

Tuesday, Nov. 13, 2018 at 10:00 AM CST

Auction Location

311 Park Avenue, Hot Springs, Arkansas 71901

Real Estate Description

ATTENTION: LANDLORDS & REAL ESTATE INVESTORS!
(2) Well-Maintained, Single Family Homes & (4) Commercial Buildings Located in Downtown Hot Springs ~
All Currently Leased or Rent Ready ~ Excellent Annual Gross Income Potential of $25,000 ~
EVERY PROPERTY SELLING REGARDLESS OF PRICE TO THE HIGHEST BIDDER ON AUCTION DAY!

AUCTION LOCATION: (6) PROPERTIES SELLING FROM 311 PARK AVENUE ~ HOT SPRINGS, AR

REAL ESTATE DESCRIPTION: (6) Prime Income Producing Properties in Excellent Locations Including (2) Homes & (4) Commercial Properties in Downtown Hot Springs ~ Properties Occupied are 1, 2A, 2B, 4 & 5 ~ Property 3 is Currently Vacant.

PROPERTY 1: (311 Park Avenue) Commercial Building ~ 1,556+/- SF, Brick Exterior, Built in 1959, Block 144, Pt. of Lots 23 & 24 ~ Hot Springs Reservation Subdivision ~ 126+/- Ft. of Frontage on Park Ave. ~ Rented Currently for $400 Per Month.  

PROPERTY 2A: (865 Park Avenue) Commercial Building ~ 2,716+/- SF, Brick/Concrete Exterior, Built in 1922, Block 154, Pt. of Lot 7 ~ Hot Springs Reservation Subdivision ~ 65+/- Ft. of Frontage on Park Ave. & 66+/- Ft. of Frontage on Pullman Ave. ~ Rented Currently for $400 Per Month.

PROPERTY 2B: (105 Pullman Avenue) Commercial Building ~ 1,644+/- SF, Concrete Block Exterior, Built in 1925, Block 154, Pt. of Lot 7 ~ Hot Springs Reservation Subdivision ~ 80+/- Ft. of Frontage on Pullman Ave. ~ Rented Currently for $200 Per Month.

PROPERTY 3: (600 Park Avenue) Commercial Building ~ 1,881+/- SF, Brick/Concrete Block Exterior, Built in 1930, Block 146, Pt. of Lot 5 ~ Hot Springs Reservation Subdivision ~ 83+/- Ft. of Frontage on Park Ave. ~ Currently Vacant.

PROPERTY 4: (309 Glade Street) Home ~ 788+/- SF, 2BR/ 1BA, on 0.13+/- Acre Lot, Built in 1945, Block 163, Pt. of Lot 4 ~ Hot Springs Reservation Subdivision ~ Rented Currently for $400 Per Month.

PROPERTY 5: (117 Beech Street) Home ~ 1,028+/- SF, 2BR/ 1BA, on 0.12+/- Acre Lot, Built in 1928, Block 81, Pt. of Lot 9 & Pt. of Closed Rd. ~ Hot Springs Reservation Subdivision ~ Rented Currently for $425 Per Month.

Remember, Every Property will be Sold Regardless of Price on Auction Day! ~ All Information Including but not limited to Square Footage, Age, Acreage or Lot Sizes are Approximate ~ Rental Status is Not Guaranteed on Auction Day.

TERMS ON REAL ESTATE: $5,000.00 (PER PROPERTY) Cashier’s Check or Cash (NO EXCEPTIONS) Down Day of Auction, as Earnest Money ~ Balance Due at Closing ~ Closing within 30 Days ~ Title Insurance with Warranty Deed Provided at Closing ~ Property Sold Free & Clear of any Liens & Encumbrances ~ 10% Buyer’s Premium ~ Offers Prior to Auction Day to Purchase Individual Homes/ Commercial Buildings or the Entire Portfolio are Welcome.

INSPECTION: Drive by to View the Leased Properties Anytime or Contact Agent, Spencer Wilson at 501-802-5060/ spencer@wilsonauctioneers.com to Inspect the Vacant Homes ~ Registration begins at 9:00 a.m. at 311 Park Avenue on Auction Day.

Aerial

Legal Descriptions

Property Information Packet

DIRECTIONS TO AUCTION LOCATION: From Downtown Hot Springs, Stay on Central Ave. until it runs into Park Ave. ~ Watch for Auction Signs on the Left.

Auction Location

Terms

TERMS AND CONDITIONS:  $5,000.00 (PER PROPERTY) Cashier’s Check or Cash (NO EXCEPTIONS) Down Day of Auction, as Earnest Money ~ Balance Due at Closing ~ Closing within 30 Days ~ Title Insurance with Warranty Deed Provided at Closing ~ Property Sold Free & Clear of any Liens & Encumbrances ~ 10% Buyer’s Premium ~ Offers Prior to Auction Day to Purchase Individual Homes/ Commercial Buildings or the Entire Portfolio are Welcome.

CLOSING COMPANY:  Lenders Title Company ~ Closing Agent: Shanda Dunlap ~ 110 Ouachita Avenue, Hot Springs, Arkansas 71901 ~ (501) 624-2541 ~ Fax/623-4552.

REAL ESTATE TAXES FOR YEAR 2017:

PROPERTY 1: (311 Park Avenue) Commercial Building – $1,118.00

PROPERTY 2A: (865 Park Avenue) Commercial Building – $611.00

PROPERTY 2B: (105 Pullman Avenue) Commercial Building – $172.00

PROPERTY 3: (600 Park Avenue) Commercial Building – $543.00

PROPERTY 4: (309 Glade Street) Home – $196.00

PROPERTY 5: (117 Beech Street) Home – $212.00

 

SCHOOL DISTRICT:  Hot Springs (both homes)

TERMS OF AUCTION