AUCTION: Friday, July 19th at 12:00 noon on site
Previews: July 10th, 11th, 12th and 13th (10 am to 2 pm or by appointment)
135 Salem Avenue, S.W., Roanoke, Virginia
Urban Rail Apartments
Downtown Roanoke Apartment Building
1 Commercial Unit and 8 Residential Apartments
Tax Assessed Value: $669,800.00
2% Broker Participation offered to agents meeting Broker Participation Guidelines. Please download form and complete all information and submit to Auction Company prior to the deadline stated on the Form.
General Information (Apartments)
- Central HVAC to all apartments (gas heat) - tenant pays gas
- All Apartments have Electric sub-meters - tenant pays electric
- Tenant pays individual internet/cable
- Owner pays water and sewer
General Information (Building)
- Elevator serving all floors (currently inoperable)
- Two sets of stairs accessing all floors
- Common Foyer at the Salem Avenue entrance with mailboxes and
- Rear loading dock - Easy loading and unloading from Norfolk
Avenue Entrance (Furniture and Appliances)
- Sprinkler System serving all floors (Inspection needed)
- Brick Exterior and Membrane Roof
Pine Flooring, High Ceilings, Intercom System, *Sprinkler System, *Elevator, Storage Areas and Two Laundry Rooms
15,676 sf - Four Story Commercial/Residential Building
First Floor: Commercial Space 1,600 sf with Foyer - Conference/Meeting Room, Offices, Full Kitchen (This is a possible conversion to spacious first floor apartment) The entrance from Salem Avenue has a Community Foyer and stairs leading to all floors. In the rear of the building, there is an entrance from Norfolk Avenue, that has a loading dock for easy loading. This entrance has another set of stairs and elevator, accessing all floors. Monthly and hourly parking in the rear and the side of building. There is also a Manager创磗 Office, Maintenance Room, Electrical Room, Community Restroom and a full bath on the first floor.
Second Floor: Two Residential Apartments, Community/Entertainment Area, Additional Multi-Use Storage Area and Two Community Restrooms
Community Area - Large Community Area for entertaining - Approximately 252 sf with two community restrooms - Women创磗 - 2 stalls and sink and Men创磗 - Has a Urinal, stubbed in for sink and commode.
Unit: 2A - Space for Storage, Office Area or Workout Room - Two separate rooms with door between - carpeting and drop ceiling.
Apt. 2B - 2 Bedroom, 1 bath, Approximately 1,620 sf, Office with a closet - Large Living Room, Kitchen with bar, Custom Built Cabinets and Pantry. The Master Bedroom has large closet and dressing area, Second Bedroom has large closet, the large full bath has a Garden Tub and Ceramic Tile. Apartment faces Salem Avenue.
Apt. 2C - 1 Bedroom, 1 bath, Approx. 506 sf, with Kitchen, Living Room with window seat
Third Floor: Three Residential Units with Laundry Room and Storage
Apt. 3A - (Apartment 3A is Leased at $590.00/mth [mth to mth Lease]) 1 Bedroom, 1 Bath, Large Living Room, Kitchen with bar and an Office Area.
Apt. 3B - (Apartment 3B is Leased at $640.00/mth [mth to mth Lease]) 1 Bedroom, 1 1/2 baths, Large Living Room, Kitchen with Bar, Office Area and Large Master Bedroom with double closets and ceiling fan.
Apt. 3C - 1 Bedroom, 1 Bath, Approx. 529 sf, Kitchen and Living Room, Chair Molding
Laundry Room - Two coin operated washers and two coin operated dryers
Storage Rooms - Three individual Storage Rooms/Maintenance Rooms
Fourth Floor: Three Residential Units - High Plaster Ceilings
Apt. 4A - 1 Bedroom, 1 Bath, Approx. 900 sf, Large Living Room with a coat closet, Kitchen with bar and ceiling fan, Pine Flooring throughout
Apt. 4B - (Apartment 4B is Leased at $650.00/mth [mth to mth Lease]) 1 Bedroom, 1 bath, Kitchen and Large Living Room, Pine Flooring, Apartment facing Norfolk Avenue.
Apt. 4C- 1 Bedroom, 2 baths, Approx. 1,080 sf, Living Room with Decorative Panel Walls, Kitchen with bar, Master Bedroom with large walk-in closet and 4 large windows.
*The Elevator and Sprinkler Systems are in need of repair/upgrades/ and/or replacement, per the Roanoke City Fire Code Inspector. The purchaser shall bear all costs for inspections and repairs, etc.
All information herein is believed to be accurate (i.e. measurements, numbers of rooms, lease rates, etc.), however, the information is not warranted by the Auction Company, the Foreclosing Party or the Substitute Trustee. The verification of the information is the responsibility of the purchaser.
TERMS AND CONDITIONS:
1. REGISTRATION: Bids are only accepted from registered bidders. Bring your driver创磗 license for identification. A Cashier创磗 Check in the amount of 10% of the Contract Sales Price is required to register.
2. DEPOSIT: The successful bidder will sign a Memorandum of Sale, immediately following the falling of the hammer, and the Cashier创磗 Check in the amount of 10% of the Contract Sale Price, will be delivered to the Substitute Trustee and will be applied to the Purchase Price at closing. The Deposit is Non-Refundable. Closing is to take place within 30 days of sale - Time will be of the Essence.
3. DEED: The property is being sold by the Substitute Trustee and the property to be conveyed by Special Warranty Deed.
4. "AS-IS创, "WHERE-IS创: The property, will be sold "AS-IS创, "WHERE-IS创. Potential Buyers must perform such independent investigations with respect to the property as they deem necessary to verify information provided by Auction Company or Substitute Trustee.
5. ANNOUNCEMENTS: Announcements made on the day of sale, take precedence over all prior communications, both verbal and written, concerning the sale or the property.
6. ADVERTISEMENTS: All information provided by Auction Company and Substitute Trustee is deemed reliable but is not warranted. The information contained in this brochure and any
advertisements by Auction Company or Substitute Trustee are subject to verification by all parties relying on it. No liability for its accuracy, error or omission is assumed by the Auction Company and Substitute Trustee.
7. REPRESENTATION: Auction Company and its representatives represent the Foreclosing Party.
8. ABSOLUTE AUCTION: This property is being sold "Absolute创 - regardless of the Price.
9. BID INCREMENTS: Auctioneer reserves the right to set bid increments.
10. BUYER创碨 PREMIUM: There will be a 5% Buyer磗 Premium which will be added to the high bid to determine the Contract Sale Price.