1528 Greenup St. – This is a 6 family consisting of (4) 2 bedroom/1 bath and (2) 1 bedroom/ 1 bath units. Each unit is equipped w/ stove and refrigerator. There are 4 furnaces in the basement and owner pays all utilities. It is currently 80% occupied and is generating $31,850 in gross annual income. Kenton County PVA denotes it as PID # 055-13-17-010.00 with an assessed value of $143,500. Current County taxes are approximately $2,227/year and Covington City taxes are approximately $450/year. Interior Preview: December 7 (11AM – 12:30PM). This will be the only date/time for interior preview due to the tenant’s rights.

10-16 W. 10th St – This 6 family split brick building contains (2) 2 bedroom/1 bath units and (4) 1 bedroom/1 bath units. Each unit has equipped kitchens, individual furnaces, and separate meters. It is currently 100% occupied and generates $33,000 in gross annual revenue. Kenton County PVA denotes it as PID # 054-24-01-013.00 with an assessed value of $143,500. Current County taxes are approximately $2,227/year and Covington City taxes are approximately $450/year. Interior Preview: December 7 (1:30PM – 2:30PM). This will be the only date/time for interior preview due to the tenant’s rights.

903-905 Lewis St. – This is an 8 family with (2) 2 bedroom/1 bath and (6) 1 bedroom/1 bath units. The building units have equipped kitchens and are heated by 3 furnaces (2 in 903 Lewis & 1 in 905 Lewis). Owner currently pays all utilities although there are separate meters. It is currently 100% occupied and generates $54,000 in gross annual income. Kenton County PVA denotes it as PID # 040-44-02-005.00 with an assessed value of $135,000. Current County taxes are approximately $2,098/year and Covington City taxes are approximately $423/year. Interior Preview: December 7 (1:30PM – 2:30PM). This will be the only date/time for interior preview due to the tenant’s rights.

Real Estate Auction: The auction will be conducted OFFSITE at the Marriott RiverCenter, Covington, KY 41011 on Wednesday December 14, 2016 beginning at 12:01PM. All bidders must register w/ photo ID and obtain a bidding number at the auction site prior to bidding. Bidder registration begins at 11:00 AM on day of auction.
Purchaser Deposit: The purchaser(s) will be required to deposit 10% of the purchase amount as a down payment by personal or corporate check and sign a Contract to Purchase immediately after being declared the high bidder. The purchaser(s) shall also sign the provided personal demand note for the amount of the purchase price to secure the contact to purchase.
Taxes and deed: Real Estate taxes will be pro-rated to the date of closing. Property is selling free and clear with no liens at closing, an insurable title, and General Warranty Deed.

Terms: The property is being sold in “as is, where is, with all faults condition”. PURCHASER WILL BE RELYING ONLY ON THEIR OWN INSPECTION OF THE PROPERTY

Closings/Possession: The closing shall take place on or before January 30, 2017. The real estate is selling free and clear of any and all liens. Buyer will receive insurable title and can purchase title insurance if desired. Possession will be given to the purchaser at closing.

Buyer’s Premium: A ten percent buyer’s premium will be added to the high bid amount(s) to determine the final contract selling prices(s) to be paid by the buyer.

Agency: Semple International, Inc. is acting exclusively as agent for the seller.

Buyer Broker/Agent Co-Op Commission: A 2% buyer broker/agent commission is offered to active licensed Kentucky real estate brokers/agents. Brokers/Agents must register their client with auction firm on auction firm approved forms, no later than 24 hours prior to auction date/time to be eligible for a commission.

BROKER / AGENT PARTICIPATION FORMS

Disclaimers: Unaudited Rent Rolls and Profit/Loss statements can be provided. They are as of 11/15/16 and could change by day of auction. Please contact our office for emailed copies @ 513.724.1133 or at Office@SempleSells.com.

Note: Information contained in this brochure and the Property Information Packet was obtained by sources deemed reliable. However, neither Semple International, Inc. nor their agents will be responsible for any errors or omissions in information provided by same. Property is subject to addition, deletion, and prior sale. Announcements made at the auction will take precedence over written material or any other oral statements made prior to the auction. Buyers should carefully verify all items and make their own decision as to the accuracy thereof before relying on same.

Brent Semple, CAI, AARE
KAL # RP7039

Via I-275 E and I-71 N/I-75 N Follow I-275 E to KY-17 N/Madison Pike in Fort Wright. Take exit 80 from I-275 E Get on I-71 N/I-75 N from Highland Ave/Highland Pike Continue on I-71 N/I-75 N to Covington. Take exit 192 from I-71 N/I-75 N Follow W 5th St and Johnson St to W Rivercenter Blvd.