REAL ESTATE AUCTION
Wednesday, December 10th at Noon
Registration & Inspection Begin at 11:00AM
2275 Winchester Ave
Ashland KY 41101
Castle Apartments – Iconic Ashland Investment Opportunity
Recognizable and well-established, Castle Apartments has been a trusted housing choice in the Ashland community for nearly 50 years. This two-story landmark property maintains an exceptional occupancy rate consistently near 100% and delivers strong, reliable cash flow.
Perfectly positioned in the heart of Ashland, it sits on a prominent corner lot surrounded by King’s Daughters medical practices, making it highly desirable for long-term renters and traveling professionals alike. The property also features additional development potential with usable space available in the basement.
A rare opportunity to acquire a proven income-producing asset in a prime medical corridor location.
Features
8,840 +/- SF plus 4,410+/- SF in Basement
1,000 feet of road frontage on Winchester Ave
1,425 feet road frontage on 23rd street
0.31+/- Acres (as assessed)
Ample parking on both sides of the building
Roof Updated in last 10 years (rubber)
Newer industrial hot water heater (gas) in last 3 years
Owners pay utilities
Nearly $10,000 income per month
Electric mini splits in each unit (some new)
Built 1970
Map #: 038-09-07-019.00
GPS: 38.474296N, 82.630688W
Directions: I-64 W to Ky Exit 191 to right on US23N to straight on Winchester Ave in Ashland to property on right. Watch for Auction Signs.
10% buyer’s premium. 60 days to close. Please read full terms and conditions before bidding.
Sold in cooperation with Woodrow Wilson, Broker 179027
10% buyer’s premium. 60 days to close. Please read full terms and conditions before bidding.
10% buyer’s premium. 60 days to close. Please read full terms and conditions before bidding.
REAL ESTATE TERMS: 10% nonrefundable down payment made day of auction (or within 24 hours for online bidders), payable to Woodrow Wilson, Broker, with balance due at closing. Cash, check, & wire transfer accepted. Credit cards will not be accepted for the down payment. No financing contingencies will be entered into the contract. Any required inspections must be completed prior to bidding. Property is being sold as is, where is with no warranty written or implied.
Property will be sold free and clear of all liens. Seller is conveying surface rights only with no oil, gas, coal, mineral, or other subsurface interests conveyed unless otherwise noted. 60 days given to close. Announcements sale day take precedence over all advertisements published. 10% Buyers Premium will be added to determine final contract price. Name of purchaser on contract must be the name of the winning bidder or an entity which the winning bidder legally represents. No exceptions. Real estate sold subject to owner confirmation.
AGENCY DISCLOSURE: Joe R. Pyle Auction and Realty Service is acting as Auctioneer only.
DISCLAIMER: All information regarding the description of this property is derived from sources deemed reliable but not warranted. Information is believed to be correct to the best of auctioneer/agent’s knowledge but is subject to inspection and verification by all parties relying on it. Sellers, their representatives and auctioneer/agent shall not be liable for inaccuracies, errors, or omissions.
Any references to acreage, unless otherwise noted, are derived from public record and are not warranted. Buyers are responsible for conducting their own research prior to bidding.
BUYER/BROKER INFORMATION: Commission will be paid to any properly licensed buyer's broker who registers a successful buyer according to the Broker Participation Guidelines. Broker registration forms are available on our website or from the company office. Broker must be registered 24 hours prior to Auction. Brokers/Agents are not entitled to a commission if they are the purchaser.
JOE R. PYLE COMPLETE AUCTION & REALTY SERVICE
(888) 875-1599
5546 Benedum Drive Shinnston West Virginia 26431
www.joerpyleauctions.com
Joe R. Pyle RP3864
