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Chincoteague Bayview home & 5 rental units to be sold at auction Saturday August 18th at 6:23 PM AARE AUCTIONEER

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CHINCOTEAGUE ISLAND BAYVIEW HOME
w/5 POSITIVE CASH FLOW RENTAL UNITS
AUCTION SATURDAY AUGUST18th 6:23 PM
YEAR ROUND SUNSETS

5206 N Main Street at Sturgis Lane

5206 N. Main St at 5192 Sturgis Lane
Chincoteague Island, VA 23336
Click here for Maps & Directions

GET PAID TO LIVE AT THE BEACH
PREVIEW'S SUNDAY AUGUST 12'th 2:00 to 4:00 PM

THURSDAY AUGUST 16th 5:30 to 7:30 PM
SOUTHWEST EXPOSURE MEANS YEAR ROUND SUNSETS

CLICK HERE FOR MORE DETAILS, PHOTOS
& DIGITAL BIDDER INFORMATION PACK

This is a great opportunity to own income producing property on Virginia's only resort island. The property is being auctioned because the seller is moving to the mainland and nobody has been able to put a price tag on this property.

The property is 1 prime acre on the "Quiet" North end of the island past all of the major traffic choke points. There are two buildings one is 4 1-bedroom 1-bath apartment units. The house is a 2 bedroom 2 bath house that has an additional 1-bed 1-ba rental unit. The apartments have a strong rental history of $650 per month each current cash flow of $2,600 per month. The owner has been using one for personal storage giving a $3,250.00 per month cash flow potential.

PLUS A BAY VIEW BEACH HOUSE TO USE FOR YOURSELF!

Zoning is multi-family and has development potential for 6 Waterview townhouses on the 1-acre lot. There are 2 large septic systems each rated for 8 bedrooms giving the potential to double the living space and occupancy.

The property has a Southwestern exposure making for year round sunsets.

AUCTION ON SITE - SATURDAY, AUGUST 18th @ 6:23 PM
TO ENJOY THE SUNSET RAIN OR SHINE

Terms of Sale: PROPERTY SOLD AS IS WHERE IS. $25,000.00 Bid Deposit
10% Buyers premium - 30-Day Closing.
Inspection: SUNDAY AUGUST 12th 2:00 to 4:00 PM
Thursday August 16th 5:30 to 7:30 PM & 2 Hours prior to auction.

BROKERS & AGENTS WELCOME! 3% paid to Buyer's Agent!

William F. "Billy" Burke, CAI - AARE
REAuction.com - The Industry Standard!
Certified Nationwide Real Estate Auctioneer
866 - 486 - SOLD
http://listserv.nationalauctionlist.com/mail/link.php?id=reauction6_home

Member National Auctioneers Association - Maryland State Auctioneers Association
VAAR 2907-003400

Posted by Billy Burke, CAI - AARE on 08/15/2007 07:11 PM

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auction, realtor, debt over equity, mortgage, auctioneer, auctioneers, virginia

This post has been included in Virginia Information Accomack County, VA Information Chincoteague, VA Information
Post is included in group: Real Estate Auction Referrals

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