Income Producing Rental Properties for Sale in Elliston VA!
You have the opportunity to purchase a great investment property located in Elliston VA. There are currently two mobile home lots rented, 7 mobile homes, and two apartments occupied and rented. Additionally, there is a home and 5 mobile home lots that are vacant that could be rented for mobile home lots. Refer to bidder pack for rental information. There are two wells that serve rental units and two septic tanks. Montgomery county PSA pumps tanks and wastewater goes to town sewer. Refer to rent roll information in bidder pack for more information on rents and status of rentals. Total acreage is 6.578 Ac +/-. Which consists of 2 tax parcels and a portion of another. 2.075, 3.54, and .963. 3.54 Acre tract has two separate zonings. The 2-bedroom home on .963 +/- portion is not rented. Some updates are required before renting. Acreage calculated by public record and estimate for .963 AC +/- portion.
Seller will have survey completed prior to closing. Sale will be subject to seller confirmation and county approval of .963 Ac lot.
Property is in flood zone. Flood insurance policy on 2 bedroom home and duplex is $700 per year. Property currently brings in $7,425 per month with a potential of $2,000 more.
If you are looking for a great investment property in Montgomery County VA, this mobile home park for sale is an excellent opportunity! Conveniently located to Roanoke, Salem, Blacksburg and Christiansburg VA.
*** The two bedroom home is in need of work before it's available for rent.
Approximately $5,000 needed for kitchen counters and cabinets.
*** Leases have Water and Septic fees totalling $300 from renters, and $50 pet fee from Apt. A.
Owner currently pays approximately $60 per month electric for well pumps and $120 per month for sewer. Renters pay their own electric.
*** List of Mobile Homes with Year, Model & Dimensions can be found in Bidder Packet
Online Auction Ending Thursday, February 16th @ 4 PM
2355 Gardner Street, Elliston VA 24087
Click Here for Property Video
Click Here for Bidder Packet
Click Here for Soil Evaluation & Septic Information
Click Here for Interactive Map – Be sure to open interactive map that shows boundaries, creek frontage, buildings, springs, and more. You can zoom in and click on icons and boundaries for additional information about property.
ONLINE BIDDING – Online bidding is now active and runs through 4 PM on February 16th, 2023. SOFT CLOSE.
DIRECTIONS – From I81 Exit 128 – Right on Rt 11 / 460 E for 12 miles – Left on Gardner St. Property on Left in .6 mi.
BIDDER PACK: Download Bidder Pack for complete information on each offering. Bidder Pack has maps, complete terms and conditions, sample contracts, tax cards, and soil work. Some of the plats in Bidder Pack have notations and boundaries created by Auctioneer for illustration purposes, however unchanged surveys are in Bidder Pack as well.
SOFT CLOSE: If a bid is received within the last 3 minutes of the auction, the auction close time will automatically extend 2 minutes to allow other bidders an opportunity to competitively bid prior to the auction closing. This feature eliminates “snipers” and encourages fair and impartial bidding from all participants.
SIMULTANEOUS CLOSE OF LOT BIDDING: Bidders desiring more than one lot will need to be high bidder on all lots desired. Each offering will stay open until all bidding is complete and all offerings will close simultaneously.
BUYER’S PREMIUM – TEN PERCENT (10%): Buyer’s Premium shall be added to the final online bid, which will determine the Total Contract Sales Price. Bidders hereby acknowledge and understand that the Buyer’s Premium will be added to the winning bid to create the Total Contract Sales Price for which they are obligated to pay for the property. Example: (winning online bid $100,000 + 10% buyer’s premium = total purchase price of $110,000).
PRE – AUCTION SALES: As an agent for the Seller, the Auctioneer must present any and all bona fide written offers to the Seller, which may be created outside of the online bidding platform. Therefore, all properties are subject to pre-auction sales. Pre-auction offers must meet all the auction terms and conditions and must be submitted to the Auctioneer on the Auction Real Estate Sales Contract, along with the required earnest money deposit. Properly submitted offers will be presented to the Seller in a timely manner. Seller may accept or reject such offer at their sole and absolute discretion. When a pre-auction offer is submitted, all properly registered online bidders will be notified that “an offer” has been submitted on a specific property, however the amount of the offer shall remain confidential. All pre-auction offers must allow a minimum of 24 hours for seller’s acceptance. A Buyer’s Broker Participation Fee of (2%) is offered on any pre-auction offers that are properly completed and submitted on the appropriate forms provided by the auction company.
Terms & Conditions- 10% Buyer’s Premium will be added to final high bid to arrive at contract price. Earnest Money Deposit of $25,000 required on day of sale (February 16th, 2023). Close on or before April 17th, 2023. Subject to seller confirmation. Property sold as is, where is, with any and all faults. Buyer is expected to complete their own due diligence. Auction starts ending at 4 PM on February 16th, 2023. Please note that during the last two minutes of bidding, if a new bid is placed, the clock is automatically extended an additional two minutes. Download Bidder Information Pack for complete terms and conditions, purchase contract and maps.