Huge 7 Unit Apt Bldg Foreclosure + Bar/rest And 5 Car Gar-near Pa Turnpk Ny Nj

$ 26749.00

Description

TREMENDOUS INCOME OPPORTUNITY-HUGE HOTEL/APARTMENT BUILDING WITH 7 APARTMENTS PLUS A BAR AND RESTAURANT AND 5 CAR GARAGE CONVENIENTLY LOCATED NEAR PA TURNPIKE WILL SELL TO THE WINNING BIDDER WITH NO RESERVE! This is a full purchase price auction. High bidder wins this building outright. Bidding opens at $26,749. This auction is for a huge 7 unit apartment building with a bar/restaurant (formerly “Major Tom’s bar & restaurant”) located right on Main Street in the heart and center of town, at 207 Main Street, Irwin, PA 15642; also included is a 5 car garage in the rear and a free public parking lot right next door to the building for your tenants as well as bar patrons. This building is being liquidated to the highest bidder, and is located conveniently very close to Exit 67 of the Pennsylvania Turnpike, making it very practical for a New York, New Jersey or Philadelphia owner as well as points West or South. Because of the possible historical status of this building as well as its location on Main Street, this property may qualify for free grant money for repairs and improvements through a program called the “Irwin Project”. To read about the Irwin Project: Click here To read about past grants given to businesses in the borough of Irwin: Click here Title will be delivered to the winning bidder free and clear of any and all liens, mortgages, back taxes and encumbrances of any kind via a Warranty Deed!! Reasonable Projected Income for the building is as follows: Bar/Restaurant: $1,100 per month Apartment #1: $525 per month– 1 BR 1 BA APARTMENT Apartment #2: $525 per month– 1 BR 1 BA APARTMENT Apartment #3: $600 per month– 1 BR 1 BA APARTMENT Apartment #4: $600 per month – 1 BR 1 BA APARTMENT Apartment #5: $600 per month – 1 BR 1 BA APARTMENT Apartment #6: $600 per month – 2 BR 1 BA APARTMENT Apartment #7: $350 per month – EFFICIENCY APARTMENT Garage #1: $75 per month Garage #2: $75 per month Garage #3: $75 per month Garage #4: $75 per month Garage #5: $75 per month Total monthly income: $5,275 Total annual income assuming no vacancy: $5,275 X 12 = $63,300 Deduct an estimated vacancy of 20% (vacant units, repairs, cleaning etc.) = $12,660 Total annual income: $63,300 – $12,660 = $50,640 In 10 years, total rents you collect: $506,400 You still own the building..try making this return in the stock market! Here is an actual view of the front of the building and bar/restaurant from across Main Street. An actual view of the interior of the bar and restaurant; formerly “Major Tom’s Bar” in Irwin, this is in overall decent condition and needs cleaning and general repairs and updates. An actual view of bar/restaurant restroom. Here is an close up actual view of the five (5) car garage in the rear of the building, which can be included for tenants or rented separately. Here is view of one of the kitchens in the seven (7) apartments in the building. A view of the living area and kitchen in one of the apartments; each unit has its own electric hot water heater and the building has electric heat throughout. A view of another kitchen in a different apartment in the building. An actual view of one of the bedrooms of one of the 2nd floor apartments. An actual view of 2nd floor hallway; the building contains a fire escape as well as a central sprinkler system. TO VIEW ALL APARTMENT AND BUILDING INTERIOR PHOTOS: Click here FOR ALL BAR/RESTAURANT PHOTOS: Click here Parcel #: 13-01-08-0-055 Legal Description of Property: 207 Main Street, Irwin, Westmoreland County, PA 15642. Zoning and Lot Size: Commercial or C2; 44 X 30.4 X IR. County Recording Fee AND additional fees: Westmoreland County charges the following to transfer and record the deed: $87 recording fee and 2% Transfer Tax. Please note these fees are in addition to the winning bid amount. Monies will be paid to the county when deed is recorded for you. The Seller will pay all costs related to deed preparation and shipping. Major credit cards accepted through Pay Pal or USA Bank Cashiers Checks in USD (the two preferred ways) within 4 days of the close of the auction. Personal Checks in USD are accepted but the recording of the deed is a slower process. Please conduct all due diligence and ask all questions prior to bidding. All maps, copy of the deed that we have sent to the county for recording and information that we have will be mailed to the same name and physical address the winning bidder provides. Please note that this property is being sold in “as-is” condition. The information set forth herein related to potential resale prices, renovation costs, assessment info, annual taxes and property condition is based upon our own assessment of information gathered from various sources. Please conduct all due diligence and ask all questions prior to placing a bid. Any individual, corporation, or entity of any kind that bids on this property, or makes an offer on this property outside of eBay, hereby acknowledges and must agree to this disclosure. Please email all questions & winning bid information at the auction conclusion. Winning bidder: Please send instructions on whose names will appear on deed, address and telephone number. This information should be emailed immediately along with how payment will be made (Pay Pal, cashiers check or money order). Please note that payment is due within 4 business days of the close of auction. Please note that all parcels are being sold in an as is condition. All sales are final.

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