• 5 Contiguous Lots • 38,500 SQ. FT - 0.88 Acres! • Excellent Redevelopment Potential • Outstanding Location • Zoned RTM • Two-Family & Multi-Family
7 HOMES OFFERED IN 7 TRACTS - PAYNE COUNTY, OKLAHOMA
Stillwater, OK 74074
Wed, Feb 23, 2022 EASTERNAUCTION IS OVER
TOTAL SOLD: $1,596,400
| Tract(s): 1-5+7 | @ $1,445,600 | |
| Tract(s): 6 | @ $150,800 |
AN EXCITING OFFERING of rental homes, in a very desirable Stillwater location. This auction should excite investors, as the opportunity to acquire 5 contiguous homes in a location of this caliber does not often happen. Located by the intersection of W 6th Avenue (Hwy 51) & S Monroe, this portfolio of properties has excellent investment & future development potential. Tracts 1 through 5, the contiguous homes, lay on a combined 275 ft. x 140 ft. parcel (0.88+/- Acres). This allows for enhanced property redevelopment & improvements as desired, but also the homes could easily be rented in current condition. Tracts 6 & 7, just down the street, provide opportunity for more investment in the immediate area. Rarely do contiguous properties, so close to campus, Sprouts & the Hospital come available! Prospective Buyers may bid on any individual tract or combination of tracts that best fit their needs.
OPEN HOUSE/INSPECTION DATES
Tuesday, February 8th from 9-11am
Thursday, February 17th from 2-4pm
Wednesday, February 23rd from 9-11am
PROPERTY LOCATION
TRACT 1: 607 S Monroe Street Stillwater, OK 74074
TRACT 2: 611 S Monroe Street Stillwater, OK 74074
TRACT 3: 617 S Monroe Street Stillwater, OK 74074
TRACT 4: 621 S Monroe Street Stillwater, OK 74074
TRACT 5: 625 S Monroe Street Stillwater, OK 74074
TRACT 6: 711 S Monroe Street Stillwater, OK 74074
TRACT 7: 1112 W 8th Avenue Stillwater, OK 74074
AUCTION LOCATION
Stillwater Community Center - Dining & Event Hall
315 W 8th Ave. Stillwater, OK 74074
TRACT DESCRIPTIONS
Tract 1: 0.1± ac 607 S Monroe Street - 3BD, 1BA, 932 sq. ft. home built in 1930 with detached garage located on 7,000 sq. ft. (50 ft.x140 ft.) lot, currently vacant.
Tract 2: 0.1± ac 611 S Monroe Street - 3BD, 1.5BA, 1,092 sq. ft. home built in 1925 with detached garage located on 7,000 Sq. ft. (50 ft.x140 ft.) lot, currently vacant.
Tract 3: 0.1± ac 617 S Monroe Street - 3BD, 1.5 BA, 1,208 sq. ft. home built in 1920 with large detached garage and carport on 7,000 Sq. ft. (50 ft.x140 ft.) lot, currently vacant.
Tract 4: 0.1± ac 621 S Monroe Street - 3BD, 1.5 BA, 1,376 sq. ft. home built in 1930 with detached garage on 10,500 Sq. ft. (75 ft. x 140 ft.) lot, currently vacant.
Tract 5: 0.1± ac 625 S Monroe Street - 3BD, 1.5 BA, 1,180 sq. ft. home built in 1925 with detached garage on 7,000 sq. ft. (50 ft.x140 ft.) lot, currently vacant.
Tract 6: 0.1± ac 711 S Monroe Street - 3BD, 1.5 BA, 1,150 sq. ft. home built in 1925 with large back yard on 7,000 sq. ft. (50 ft. x 140 ft.) lot, currently vacant.
Tract 7: 0.1± ac 1112 W 8th Avenue - 2BD, 1BA, 580 sq. ft. home built in 1925 with detached garage on a 2,850 sq. ft. corner lot, currently leased month to month.
TRACT MAP(S)
Tracts 1-7
AREA MAP(S)
PROCEDURE: Tracts 1 through 7 will be offered in individual tracts, in any combination of these tracts, or as a total unit. There will be open bidding on all tracts and combinations during the auctions as determined by the Auctioneer. Bids on tracts, tract combinations and the total property may compete. The property will be sold in the manner resulting in the highest total sale price.
BUYER'S PREMIUM: The contract purchase price will include a Buyer's Premium equal to 4% of the bid amount.
DOWN PAYMENT: 10% of the total contract purchase price will be due as a down payment on the day of auction, with the balance due in cash at closing. The down payment may be made in the form of cashier's check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.
APPROVAL OF BID PRICES: All successful bidders will be required to enter into purchase agreements at the auction site immediately following the close of the auction. The auction bids are subject to the acceptance or rejection by the Seller.
DEED: Seller shall be obligated only to convey a merchantable title by Warranty Deed.
EVIDENCE OF TITLE: Seller agrees to make available to bidder a preliminary title insurance commitment to review prior to auction. The cost of title insurance, if the buyer(s) elects to purchase the title insurance policy, will be the responsibility of the buyer(s). Seller agrees to provide merchantable title to the property subject to matters of record, general conditions of title, and similar related matters. All tracts sold "AS-IS".
CLOSING: The closing shall take place 45 days after the auction or as soon thereafter as applicable closing documents are completed by Seller.
POSSESSION: Possession shall be at closing, subject to rights of current tenants.
REAL ESTATE TAXES: Real Estate taxes shall be prorated to the date of closing.
MINERALS: Seller specifically excepts and reserves all minerals, including without limitation, oil, gas, coal, coalbed methane, and all other hydrocarbons, lignite, and all metallic minerals, etc., if any, associated with the referenced real estate, and the term "Property" shall not include any mineral rights.
ACREAGE AND TRACTS: All acreages, dimensions and square footages are approximate and have been estimated based on current legal descriptions, property tax records and/or aerial photos. Any corrections, additions, or deletions will be made known prior to the auction.
AGENCY: Schrader Real Estate and Auction Company, Inc. and their representatives are exclusive agents of the Seller.
DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an "AS IS, WHERE IS" basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the person's credentials, fitness, etc. All decisions of the Auctioneer are final. ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.
NEW DATE, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes or additions to the property information.
