(6) Income Producing Properties Selling Individually - Online Auction
942 Forsythe Street, Toledo, Ohio 43605
944 Forsythe Street, Toledo, Ohio 43605
11 Bronson Avenue, Toledo, Ohio 43608
161 Hausman Street, Toledo, Ohio 43608
2529 Foraker Avenue, Toledo, Ohio 43609
517 Geneva Avenue, Toledo, Ohio 43609
Bidding Ends
Tuesday, November 1, 2022 at 12:00 pm
Open House
Thursday, October 27, 2022
Bronson at 11:30 am
Hausman at 12:00 pm
Foraker at 12:30 pm
Geneva at 1:30 pm
Forsythe at 2:00 pm
Property Description
Online Only Auction! 6 incoming producing properties that are fully rented - 1 duplex and 5 houses - that are being sold separately. The annual rent is $54,168 for all 6 properties and 6 / 7 tenants are Section 8 - guaranteed income!
Property Updates (per the Seller)
944 Forsythe Street
Furnace and AC unit were replaced 5/20/20. Water heater was replaced in 5/14/22. PEX water lines installed for all basement and first floor water needs.
942 Forsythe Street
Basement project 11/17/2021: Sump pump/interior tile/ vapor barrier on exterior facing walls and vapor barrier added to crawl space. Chimney liner replaced in summer of 2021.
517 Geneva Avenue
Both bedrooms got new carpet June 2020. Living, dining room, hallway got luxury vinyl plank flooring installed in June 2020. Interior of house repainted June 2020. Chimney liner was replaced 4/23/2022.
2529/2531 Foraker Avenue
Furnace was replaced at 2531 Foraker on 11/17/2021. Water heater replaced at 2531 in December 2021. Water heater replaced at 2529 in June 2022. Entire property was converted to PEX in December 2020.
161 Hausman Street
Furnace replaced 4/7/2021.
11 Bronson Avenue
Luxury vinyl plank installed October 2022. Much interior painting and flooring replaced in past two years by tenant.
Rent and Utilities/Appliances (per the Seller)
| Address | Current Rent | Section 8 assistance? | Section 8 Payment | Tenant Payment | Who pays | Who Provides | |||
| Water Sewer Trash | Gas | Electric | Refrigerator | Range/ Microwave | |||||
| 942 Forsythe | $652.00 | Yes | $543.00 | $109.00 | Tenant | Tenant | Tenant | Tenant | Tenant |
| 944 Forsythe | $740.00 | Yes | $733.00 | $7.00 | Owner | Tenant | Tenant | Tenant | Tenant |
| 161 Hausman | $540.00 | Yes | $540.00 | $0.00 | Tenant | Tenant | Tenant | Tenant | Tenant |
| 11 Bronson | $600.00 | Yes | $434.00 | $166.00 | Tenant | Tenant | Tenant | Owner | Owner |
| 517 Geneva | $872.00 | Yes | $822.00 | $50.00 | Owner | Owner | Owner | Tenant | Tenant |
| 2529 Foraker | $500.00 | No | $0.00 | $500.00 | Owner | Tenant | Tenant | Owner | Owner |
| 2531 Foraker | $610.00 | Yes | $610.00 | $0.00 | Owner | Tenant | Tenant | Owner | Owner |
AUCTION REGISTRATION: The online registration is available at www.PamelaRoseAuction.com or on our Mobile App and will need to be completed. Next you’ll receive an email indicating you must provide proof of funds from your bank that you have sufficient funds to cover the required earnest money down payment before online bidding is enabled and you receive a bid number. This may be accomplished by emailing to info@pamelaroseauction.com prior to the auction. Proof of funds consists of a copy or original of a current bank statement or brokerage statement in bidder’s name showing sufficient funds for a $3,500 earnest money deposit per Property.
EARNEST MONEY REQUIREMENT: Winning online bidders must deliver earnest money via wire transfer or cashier’s check to Midland Title & Escrow, immediately following the auction, in the amount of $3,500 per Property. The successful online bidder will be notified immediately following the closing of the auction and Purchaser needs to sign and return purchase contracts as soon as possible and no later than 24 hours post auction via electronic signature or in person. Balance will be paid in full at closing on or before 30 Days after acceptance.
TITLE: A guaranteed certificate of title will be provided at Seller’s expense giving marketable title subject to existing easements and restrictions. The Escrow Agent will be Midland Title; 3355 Briarfield Boulevard, Maumee, Ohio 43537; Office: 419-259-5403.
DOCUMENTS AVAILABLE: A bidder’s packet will be available online and will include Purchase Agreement, Agency Disclosure, Consumer Guide, Lead Based Paint, Property Disclosures, and the Non Refundable Earnest Money Deposit Agreement.
BROKER PARTICIPATION: Broker participation is welcomed - call for registration forms and guidelines at 419-865-1224 or obtain online under Resources.
BUYER’S PREMIUM: Properties will be sold with a ten (10%) percent buyer’s premium. The bid amount plus buyer’s premium equals the final purchase price.
BIDDING: All bids must be submitted using the online bidding system. Buyers are responsible to confirm their bids for accuracy. Selecting the Bids tab at any time may do this. Bidders will receive outbid notifications via email up until the last day of the auction, after which time you must log in to the bidding site to confirm your bids. Auctioneer is providing internet bidding as a service to Buyer using a Third Party Bidding System. Under no circumstances shall Buyer hold Auctioneer liable for system failures resulting in Buyer’s bid not being properly submitted.
EXTENDED BIDDING: This online only auction has an extended bidding feature. The closing time of a property is automatically extended 5 minutes whenever a bid is placed in the last 5 minutes of the properties closing time. The bidding for the property will close when a period of 5 minutes has expired without an additional bid.
AGENCY: Auctioneer is a seller’s agent.
WEBSITE UPDATES: Please refer to the website for updated information on occupancy, rents, or changes at www.pamelaroseauction.com.
DISCLAIMER: Announcements made day of auction take precedence over printed materials. All information in this brochure was derived from sources believed to be correct, but is not guaranteed. All property dimensions are only approximations. Buyers shall rely entirely on their own judgment and inspection of property and records.
