Income Producing Homes for Sale Near Radford University

Income Producing Homes for Sale Near Radford University

Looking to expand your real estate portfolio with income producing properties? Check out this upcoming auction of 5 homes currently used for student housin in the City of Radford, VA. These properties have consistent rental demand and are just a short walk away from Radford University. Don't let this chance slip away! This is known as Offering #5.

Offering #5: 1217 Fairfax St., Radford, VA 24141
   - Property Type: Single-family conventional home
   - Bedrooms: 4
   - Baths: 1
   - Living Space: 1,374 sq ft
   - Year Built: 1934
   - Current Rent: $1,700/month
   - Annual Income: $20,400
   - Heat Pump Updated in 2023

Property Highlights:
- Prime Location: These properties are within walking distance of Radford University.

- Stable Income Stream: The combined annual income from all 5 homes is $136,200.

- Zoned R4: The properties are zoned R4, allowing for flexible usage and potential future expansion or development opportunities. Click HERE for Radford City Zoning Ordinances.

- Public Utilities: All homes are served by public water and sewer.

- Lease Expiration: All current leases expire on August 1st, 2024.

- Other: CLICK HERE for an article below concerning the plan for free enrollment for Radford University Students in the Fall of 2024. This may result in an increase of enrollment for Radford University.

Don't miss out on this exceptional investment opportunity!

Online Auction Ends Thursday, April 11^th at 3 PM
1217 Fairfax St., Radford, VA 24141

Click Here for Bidder Packet
Click Here for Interactive Map
Click Here for Property Video
Click Here for Zoning
Click Here for Rent Roll Sheets
Click Here for Rental Income and Expenses Report

CONTACT: Auctioneer Matt Gallimore at 540-239-2585 or email Gallimore.Matt@gmail.com or Realtor Dari Cupp at 540-250-1839. Auction is in cooperation with Realtor Stephanie Carfagna with Long & Foster; contact Stephanie at 540-230-9357 or email stephanie.carfagna@gmail.com

DIRECTIONS: From the intersection of Jefferson St and Tyler Rd in Radford, Take Tyler Rd to a left onto Fairfax St. Properties are on the left. See signs.

BIDDER PACK: Download Bidder Pack for complete information on each offering. Bidder Pack has maps, complete terms and conditions, sample contracts, tax cards, and restrictions. Some of the plats in Bidder Pack may have notations and boundaries created by Auctioneer for illustration purposes, however unchanged surveys are in Bidder Pack as well.

SOFT CLOSE: If a bid is received within the last 2 minutes of the auction, the auction close time will automatically extend 2 minutes to allow other bidders an opportunity to competitively bid prior to the auction closing. This feature eliminates “snipers” and encourages fair and impartial bidding from all participants.

SIMULTANEOUS CLOSE OF LOT BIDDING: Bidders desiring more than one offering (home) will need to be high bidder on all offerings (homes) desired. Each offering will stay open until all bidding is complete, and all offerings will close simultaneously.

BUYER’S PREMIUM – TEN PERCENT (10%): Buyer’s Premium shall be added to the final online bid, which will determine the Total Contract Sales Price. Bidders hereby acknowledge and understand that the Buyer’s Premium will be added to the winning bid to create the Total Contract Sales Price for which they are obligated to pay for the property. Example: (winning online bid $100,000 + 10% buyer’s premium = total purchase price of $110,000). Buyer’s Premium is not due until closing.

PRE-AUCTION SALES: As an agent for the Seller, the Auctioneer must present any and all bona fide written offers to the Seller, which may be created outside of the online bidding platform. Therefore, all properties are subject to pre-auction sales. Pre-auction offers must meet all off the auction terms and conditions and must be submitted to the Auctioneer on the Auction Real Estate Sales Contract, along with the required earnest deposit. Properly submitted offers will be presented to the Seller in a timely manner. Seller may accept or reject such offer at their sole and absolute discretion. When a pre-auction offer is submitted, all properly registered online bidders will be notified that “an offer” has been submitted and on which specific property, however the amount of the offer shall remain confidential. All pre-auction offers must allow a minimum of 24 hours for seller’s acceptance. A Broker Fee of 2% (of the High Bid Price) is offered to a cooperating VA State Licensed Real Estate Broker on any pre-auction offers that are properly completed and submitted on the appropriate forms provided. Download Bidder Pack for Online Bidder’s Agreement, maps, sample contracts, and property information.

TERMS & CONDITIONS: 10% Buyer’s Premium will be added to final high bid to arrive at contract price. Earnest Money Deposit of $10,000 per offering is required on day of sale. Close on or before May 28^th, 2024. Subject to seller confirmation. Property sold as is, where is with any and all faults. Buyer is expected to complete their own due diligence before placing a bid. Auction starts ending at 3 PM on April 11^th, 2024. Please note that during the last two minutes of bidding, if a new bid is placed, the clock is automatically extended an additional two minutes. Be sure to register to bid early to ensure you receive notifications regarding any changes to the Auction, Bidder Packet and/or Pre-Auction offers received. Download Bidder Information Pack for complete terms and conditions, purchase contract and maps.