Online Real Estate Auction
Bidding begins closing Tuesday, September 22nd at 6:00PM
2200 Shadyside Road
Saint Albans, WV
Fully Occupied 6-Unit Multifamily Investment Property
Property Highlights
- 6-unit apartment building
- Fully occupied / 100% rented
- (2) 3-bedroom, 1.5-bath units
- (4) 1-bedroom, 1-bath units
- 11 total parking spaces
- Situated on approximately 0.12± acre, as assessed
- Tenants pay utilities
- Owner pays trash
- Potential opportunity to create additional parking and/or explore additional apartment units, subject to approvals
Current Rental Income
- (2) 3-bedroom units renting for $1,000/month each
- (3) 1-bedroom units renting for $600/month each
- (1) 1-bedroom unit renting for $700/month
- Total Monthly Rental Income: $4,500
- Total Annual Gross Rental Income: $54,000
- 100% occupancy
Updates & Improvements
- 4 of 6 HVAC systems updated
- 5 of 6 refrigerators updated
- 4 of 6 hot water tanks updated
- 5 of 6 dishwashers updated
- 3 of 6 ovens/ranges updated
- Roof approximately 10–12 years old
Investment Highlights
- Fully occupied income-producing multifamily property
- Established rental income from all 6 units
- $54,000 current annual gross rental income
- Tenants responsible for utilities, excluding trash
- Mix of 1-bedroom and 3-bedroom apartments
- Numerous HVAC, appliance, and hot water tank updates
- 11 on-site parking spaces
- Opportunity for continued improvements to remaining units
- Potential value-add opportunity through future rent growth
- Potential for additional parking and/or apartment expansion, subject to zoning, permitting, and other applicable approvals
Legal Description: 63/100A UNNUMBERED LT LAKEWOOD IN THE HILLS SHADYSIDE RD 2200 and 621/1000A BEING PT PAR A LAKEWOOD IN THE HILLS SHADYSIDE RD 2200
District 16, Map 6, Parcels 133.1 & 133.2
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) with balance due at closing. Cash, check, & wire transfer accepted. Credit cards will not be accepted for the down payment. REAL ESTATE PURCHASE AGREEMENT WILL BE SENT TO THE EMAIL ON FILE FOR ELECTRONIC SIGNATURE FOLLOWING THE CLOSE OF THE AUCTION AND MUST BE SIGNED IMMEDIATELY. 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 unless otherwise noted. Auction company reserves the right to bid on behalf of the seller in an auction with reserve.
AGENCY DISCLOSURE: Joe R. Pyle Auction and Realty Service is acting as Auctioneer/Agent and is an agent for the seller 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.
We don't just list your property - WE SELL IT!
JOE R. PYLE COMPLETE AUCTION & REALTY SERVICE
Joe R. Pyle, Broker
(888) 875-1599
5546 Benedum Drive Shinnston West Virginia 26431
www.joerpyleauctions.com
Charlotte Pyle WV2174
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