Multi Family Real Estate Investment Opportunity Located Only Steps From Main St.--Culpeper, VA

Multi Family Real Estate Investment Opportunity Located Only Steps From Main St.--Culpeper, VA

Great investment opportunity in downtown Culpeper, VA!! -- 2 existing 2 BR/1 BA incoming producing homes (fronting S West St.)  -- Property is approved for 6 condos (2 units of 3) -- One 3 unit condo has footers and basement walls already completed -- Remove the existing homes (if you desire) and put in the other 3 condo units -- 6 water & sewer taps already in place!! Live on-site auction & also providing live real time online simulcast bidding for your convenience Only $300,000 Starting Bid!!
  •   Dec 18 @ 3:00PM EST (Start)
  •   Jan 20 @ 2:30PM EST (End)
  •   Add to Calendar

Highly desirable multi family real estate investment opportunity in downtown Culpeper, VA.  This property is comprised of approximately 1/4 of a block and is ready to complete "Oakview Condos."  The 2 existing homes are currently income producing (month to month), and the one 3 condo unit has been started.  All the important and cumbersome legwork is complete, and this wonderful project is awaiting a new owner to take it across the finish line!! 

Live On-Site Auction w/Live Real Time Online Simulcast Bidding for Your Convenience!!

Property Tour:  Wednesday, January 13 @ 2:30pm SHARP.  Please contact Tony Wilson (540-748-1359) for more information.

  • 2 existing 2 BR/1 BA income producing homes ($850 each month to month)
  • Home are 2 story, 800+ sf. with living rooms & eat-in kitchens
  • Homes are heated with gas (heat pumps) and cooled with central AC
  • Serviced by public water, sewer & gas
  • The "Oakview Condo" project has been approved for two 3 unit condos (6 condos total).  The approval is in place, site work is complete for one 3 unit section, and all 6 water & sewer taps are in place ($100,000 value).  The one 3 unit section has the footers, basement and basement walls poured.  In addition, the plumbing is roughed in.  The 2 existing homes would need to be removed if you desire to begin the other 3 condo units.
  • Please click on the "Documents" menu above to view permits, site plans and conceptual renderings w/elevations.
  • This property is located only steps from Main St. and all of Culpeper's great restaurants & commerce!!
  • Electricity:  Town of Culpeper Light & Power; Internet:  Comcast
  • Tax Maps:  41A1 4L 8A, 41A1 4L 8A1, 41A1 4L 8A2, 41A1 4L 8A3, 41A1 4L 8A4, 41A1 4L 8A5 and 41A1 4L 8A6; Oakview Condos; Zoning:  R-3; Yearly real estate taxes:  $1,200; Homes built in 1938; WE GUARANTEE A FREE & CLEAR DEED
  • Only $300,000 Starting Bid!!

Need Financing for this property??  Please contact Tony Wilson for financing information (540-748-1359)

FOR REALTORS:  if you have been working with a Realtor, please have them click here and complete their broker participation form.  In order for the Realtor to be compensated, broker forms must be completed and submitted no later than 5 pm on 1/19/2021, and all terms adhered to.

Terms and Conditions

TERMS:  $20,000 deposit is due immediately after confirmation of final bid and the balance due at closing within 30-45 days (unless prior written arrangements have been made by contacting Tony Wilson (540-748-1359).  There is a possibility of a lesser deposit if proof of pre approved financing is presented prior to auction.   Deposits must be in the form of a cashier's check or certified check (from a US bank) made payable to yourself.   A 10% buyer's premium will be added to the final bid, and will become a part of the purchase price. Property sold in as-is condition, and is not contingent upon buyer's financing, condition of property, appraisal, inspection, etc.  Pre-approved (no later than 5 pm on 1/19/21) broker participation is compensated. Auctioneer's Note: All information and dimensions were derived from sources believed to be correct, but are not guaranteed. Buyers shall rely on their own information, judgment, and inspection of the property. All auction day announcements take precedence over any previously printed material or any other oral statements made.

We are happy to offer online/simulcast bidding for bidders who cannot physically attend the live auction event. Please understand and agree that online bidding will only be allowed if the buyer is physically NOT on site at the live auction. Online bidding will NOT be allowed if you are physically in attendance at the live auction event. 

ADDITIONAL TERMS for THOSE PLANNING TO BID LIVE ONLINE
In addition to the above terms and conditions, Please read below if you are participating and registered for LIVE ONLINE SIMULCAST BIDDNG

  • Contact the auction coordinator (his or her name and contact number is on the NichollsAuction.com site under the auction you are bidding on) immediately if you need additional information.
  • Bidder Verification: The identity of all bidders will be and must be verified (via phone, email or text).  Bidding rights are provisional, and if complete verification is not possible, Nicholls Auction Marketing Group, Inc. will reject the registration, and bidding activity will be terminated.
  • At the close of the auction, and seller confirmation, the successful bidder will be emailed or given the contract package to execute and return to Nicholls Auction Marketing Group, Inc. The successful bidder’s earnest money deposit must be in the form of cashier’s or certified check (United States Bank) or wire transfer to Nicholls Auction Marketing Group, Inc. The entirety of the remaining balance is due at closing. Purchaser shall be responsible for all wire transfer fees.
  • Contract Packages will be sent by e-mail or hand delivered to the high bidder, who must execute and hand deliver, email, fax or overnight mail back to Nicholls Auction Marketing Group, Inc., within 24 hours of receipt. If the successful bidder does not execute and return their contract with earnest money deposit within 24 hours of receipt they will be considered in default and subject to legal action. This is a legal binding contract.
  • In the event a winning bidder fails to submit the signed ’Contract for Sale of Real Property’ and deposit earnest money as provided in the pre-stipulated Auction Terms, the winning bidder will be charged an administrative fee of $20,000 on the credit card provided at auction registration. Additional default remedies are reserved by Nicholls Auction Marketing Group, Inc., and the Seller as provided in the Auction Terms & Conditions and the ‘Contract of Purchase’. All administrative fees are non refundable.
  • Any reliance on the contents shall be solely at the recipient’s risk. Bidders must conduct and rely solely upon their own investigations and inspections. The property is being sold ’AS IS’ with any and all faults. Please review all information supplied, and seek appropriate assistance prior to bidding.
  • Technical Issues: Neither the company providing the software nor the auction company shall be held responsible for a missed bid or the failure of the software to function properly for any reason.  In the unfortunate event of a DDOS attack or server attack/shut down, the auction company reserves the right, but is not required, to extend bidding time.  To minimize the chance of being affected by internet or software issues, please use the “Max Bid” feature.  Please contact Tim Peters/Bid Wrangler @ 844-296-8727 if you need assistance with the online bidding platform.

TERMS:  $20,000 deposit is due immediately after confirmation of final bid and the balance due at closing within 30-45 days (unless prior written arrangements have been made by contacting Tony Wilson 540-748-1359 or tony@wilsonauctionco.com). Deposit must be in the form of a cashier's check or certified check (from a US bank) made payable to yourself. A 10% buyer's premium will be added to the final bid, and will become a part of the purchase price. Property sold in as-is condition, and is not contingent upon buyer's financing, condition of property, appraisal, inspection, etc.  Pre-approved (no later than 5 pm on 10/16/19) broker participation is compensated. Auctioneer's Note: All information and dimensions were derived from sources believed to be correct, but are not guaranteed. Buyers shall rely on their own information, judgment, and inspection of the property. All auction day announcements take precedence over any previously printed material or any other oral statements made.

We are happy to offer online/simulcast bidding for bidders who cannot physically attend the live auction event. Please understand and agree that Online bidding will only be allowed if the buyer is physically NOT on site at the live auction. Online bidding will NOT be allowed if you are physically in attendance at the live auction event. 

ADDITIONAL TERMS for THOSE PLANNING TO BID LIVE ONLINE
In addition to the above terms and conditions, Please read below if you are participating and registered for LIVE ONLINE SIMULCAST BIDDNG

  • Contact the auction coordinator (his or her name and contact number is on the NichollsAuction.com site under the auction you are bidding on) immediately if you need additional information.
  • Bidder verification: The identity of all bidders will be and must be verified (via phone, email or text).  Bidding rights are provisional, and if complete verification is not possible, Nicholls Auction Marketing Group, Inc. will reject the registration, and bidding activity will be terminated.
  • At the close of the auction, and seller confirmation, the successful bidder will be emailed or given the contract package to execute and return to Nicholls Auction Marketing Group, Inc. The successful bidder’s earnest money deposit must be in the form of cashier’s or certified check (United States Bank) or wire transfer to Nicholls Auction Marketing Group, Inc. The entirety of the remaining balance is due at closing. Purchaser shall be responsible for all wire transfer fees.
  • Contract Packages will be sent by e-mail or hand delivered to the high bidder, who must execute and hand deliver, email, fax or overnight mail back to Nicholls Auction Marketing Group, Inc., within 24 hours of receipt. If the successful bidder does not execute and return their contract with earnest money deposit within 24 hours of receipt they will be considered in default and subject to legal action. This is a legal binding contract.
  • In the event a winning bidder fails to submit the signed ’Contract for Sale of Real Property’ and deposit earnest money as provided in the pre-stipulated Auction Terms, the winning bidder will be charged an administrative fee of $10,000.00 on the credit card provided at auction registration. Additional default remedies are reserved by Nicholls Auction Marketing Group, Inc., and the Seller as provided in the Auction Terms & Conditions and the ‘Contract of Purchase’. All administrative fees are non refundable.
  • Any reliance on the contents shall be solely at the recipient’s risk. Bidders must conduct and rely solely upon their own investigations and inspections. The property is being sold ’AS IS’ with any and all faults. Please review all information supplied, and seek appropriate assistance prior to bidding.
  • Technical Issues: Neither the company providing the software nor the auction company shall be held responsible for a missed bid or the failure of the software to function properly for any reason.  In the unfortunate event of a DDOS attack or server attack/shut down, the auction company reserves the right, but is not required, to extend bidding time.  To minimize the chance of being affected by internet or software issues, please use the “Max Bid” feature.  Please contact Tim Peters/Bid Wrangler @ 844-296-8727 if you need assistance with the online bidding platform.