REAL ESTATE AUCTION

REAL ESTATE AUCTION

FORT MADISON, IOWA

2 INVESTMENT PROPERTIES FOR 1 PRICE

THURSDAY, MAY 3, 2012 AT 6:00 PM

2224 Avenue L, Fort Madison, Iowa

This Real Estate Positively Sells to the Highest Bidder!

***$9,600 Annual Income!***

2220 Avenue L ●4 Bedroom, 1 ¾ Bath Home

This two story home features a living room with open staircase, dining room, kitchen (with newer stove and refrigerator included), ¾ bath and one bedroom on the main floor. The second floor features a full bath and 3 additional bedrooms.  Newer vinyl clad windows, updated 200 amp service panel (entire home rewired by licensed electrician in 2011), Carrier heat pump with central air and vinyl siding are just a few of the features of this well maintained home.  Don’t forget the fenced backyard!

2224 Avenue L ●2 Bedroom, 1 Bath Home

This single story home includes an eat-in kitchen with tile flooring, living room, 2 bedrooms and full bath. It features a newer asphalt shingle roof (2011) and Carrier high efficiency gas forced air furnace.  It also has a small storage building.

AUCTIONEER’S NOTE: THESE PROPERTIES ARE SITUATED ON A LARGE LOT IN A PRIME COMMERCIAL AREA WITH GREAT VISIBILITY AND HIGHWAY 61 ROAD FRONTAGE. THESE 2 CENTRALLY LOCATED PROPERTIES ARE AN EXCELLENT OPPORTUNITY FOR RENTAL INCOME (CURRENTLY $800/MONTH)!

PREVIEW/INSPECTION DATE:Thursday, April 19^th from 4:30 PM to 6:00 PM or contact the auctioneers for an appointment.

TERMS:Fifteen (15%) down payment on day of auction upon signing a written purchase agreement immediately following the close of bidding.  Balance to be paid upon delivery of merchantable abstract and deed with a proposed closing date of June 5^th, 2012. Real Estate taxes to be prorated to date of possession on the basis of the last available tax statement and all prior taxes. Possession to be given on day of closing. The down payment may be paid in the form of cash, personal check, business check or cashier’s check.

ANNOUNCEMENT:Information contained herein is presented on behalf of the seller.  Menke-Hoyer Auction & Realty Co., Inc., agent for the seller, cannot guarantee the information to be correct or assume the liabilities for errors and omissions.  Buyers should verify the information to their own satisfaction.  Any announcements made from the auction block on day of auction will take precedence over any matter of print and will be final.

William J. & Kitty L. Garner – Sellers

Richard Fehseke, III of Fehseke & Eschman Law Offices – Attorney for Sellers

www.menkehoyerauction.com

Menke-Hoyer Auction & Realty Co., Inc.

PO Box 8, New London, IA 52645

319-367-5744

auctions@menkehoyerauction.com