Oliver Springs Investment Property Auction

PUBLIC REAL ESTATE AUCTION

4532 Knoxville Hwy Oliver Springs, TN 37840

Rental Property Investment Opportunity 

5 Sources of Possible Rental Income:

3-1 BR Apartments, Mobile Home, and Bar!

LIVE ONSITE AUCTION: Thursday, August 2nd at 12 NOON

Located just a few minutes away from Windrock Park and Brushy Mountain Prison Museum!

3-1 BR Apartments

The front of the building was formally a beauty shop with a bathroom and equipped with the following amenities:

Water, Electric, Hotwater Heater, Natural Gas

The Upstairs includes 1 bedroom, 1 bath, a kitchen and equipped with the following amenities:

Window Air, Gas Heat, Washer & Dryer Connection | Previous Rent was $600/month

The Downstairs includes 1 Bedroom, 1 bath, a kitchen and a washer & dryer connection

Mobile Home

1 Bedroom, 1 Bath, Gas Heat, Window Air, Washer & Dryer Connection|Previous Rent was $650/month

Bar

Kitchen with equipment (Hood, grill, stove), Walk in cooler, 2 pool tables, juke box, central air, gas heat

Patio area with smoker, game area with horse shoes and basketball court, and covered picnic area

Current Rent is $600/month – No Lease

Property also includes a storage building and a pad where 2 mobile homes used to be

Parcel ID: 120 104.00

2017 Taxes: $486.64

1 Acre

TERMS: The successful high bidder on this property will be required to sign the Real Estate Sales Contract, Terms & Conditions, and any other documents needed immediately upon conclusion of the bidding and will make an earnest money deposit of ten percent (10%) of the sales price. A ten percent (10%) buyer’s premium will be added to the high bid to establish the total sales contract price. US currency cash or approved check. The balance is to be paid in full at deed closing within 30 days. M & M Title to conduct the closing.  Current taxes will be prorated at the date of closing. Seller to provide deed. Buyer is responsible for title opinion, title insurance and recording fees. Customary closing costs to be split between the buyer and seller. Buyer is to obtain their own financing. The contract will not be contingent upon financing, inspections or any other contingencies. Powell Auction & Realty, LLC and its auctioneers and employees are representing the sellers as the sellers’ Agents. All properties are sold “AS-IS, WHERE-IS and WITH ALL FAULTS,” without any warranties expressed, implied or guarantees of any kind. Agent represents the seller only and does not inspect properties on bidder’s behalf. All measurements, square footage and age are approximate and not guaranteed. Seller and/or Agent makes no warranty as to the accuracy of information. All information is deemed reliable, but not guaranteed. Buyer to verify ALL information to their satisfaction prior to bidding. Tennessee Residential Property Exemption Notification will be a part of the sales contract. Lead-Based Paint inspection starts July 10 2018.