PUBLIC ESTATE AUCTION
2 Tracts ● Mobile Homes ● Farm House
Great Income Producing Properties
Saturday, April 8th, 10:00 A.M.
6585 Hwy 13 South, Waverly, TN
Directions: From Courthouse take Hwy 13 South 6 miles to property on the right. See signs.
Tract #1 – 6585 Hwy 13 South: This parcel consists of a 2.15 AC tract improved with 2 mobile homes. Each home has 3 bedrooms, 2 baths, C/H/A, refrigerator, stove and garden tub with separate shower. Additional improvements include covered front porches, wheel chair ramps, new chert gravel drive and parking area. This tract also has a shared fenced playground and outdoor covered grilling/picnic area for the tenants. This property is currently generating $1,750.00 per month in rental income.
Tract #2 – 6585 Hwy 13 South: This parcel consists of a 3.76 AC tract improved with a 2 bedroom, 1 bath mobile home having electric heat, 2 window air conditioners, stove and refrigerator. It is also improved with a new chert gravel drive and a wheel chair ramp. This tract has a detached 24’ x 24’ metal garage building and an old farm house that is currently unoccupied. This property is currently generating $700.00 per month in rental income.
The mobile homes and additional newer improvements were installed within the last couple of years and are in nice looking condition. The properties are serviced by electricity, city water and septic. Both properties are an excellent investment opportunity with a total of $2,450.00 per month in rental income! Each tenant had a rental history of 1-3 years with previous land lord. Tenants are now on a month to month rental agreement due to Estate status. However, each one would love to stay in place and have a more traditional longer term lease agreement. The tenants will remain in place for auction sale and plan to stay with new owner if purchaser agrees to the same.
»» Properties will be offered both separately and together ««
|► INSPECTIONS AND PREVIEWS OF PROPERTIES WILL BE ON AUCTION DAY ONLY, APRIL 8TH, 8:00 A.M. TO 10:00 A.M. ◄|
Terms: 10% down on sale day. Balance due on or before 30 days. Anyone not personally known by Bill Collier Realty & Auction Company must provide a bank letter of guarantee. This sale is being held to settle the Karen E. Papp Estate. Robert I. Thomason, Estate Attorney and closing Attorney for sale. Will O. Sanders, Auctioneer. For more details about the auction or pictures of the property go to www.bcollier-realtyauction.com or contact Will O. Sanders, Auctioneer at 931-296-2766.
License # 5173