Income Producing Investment Property for Sale in Willis VA!
Looking for an investment property in Floyd County VA? Check out this +/- 2,088 square foot, 2 unit rental property in Willis VA. This newly remodeled property features 2 rental units. Don’t miss your opportunity to own this great income producing property!
Lower level unit features 1 bedroom and 1 bath with an enclosed back porch. Upper level unit features 2 bedrooms and 1 bath. Both units have all new appliances and new stackable washer and dryers. Features new Mitsubishi split heating and air units.
Exterior of building was remodeled in 2021 with new metal siding. Interior remodel was completed in 2022. New larger well pump was installed this year. Both units have been rented since completion in October 2022. Each unit rent for $1,025 per month which includes electric, propane, internet, water and septic usage.
Great location off Highway 221 in Willis VA. Located near gas station, store, bank and restaurants in the Willis VA community of Floyd County VA. Easy commute to the Town of Floyd, Hillsville, Radford and Christiansburg VA.
Online Auction Ending Friday, April 14th @ 3 PM
110 Merifield Rd, Willis, VA 24380
Preview – Thursday, March 30th at 4 PM
Online Bidding – Online bidding is now active and runs through 3 PM on Friday, April 14th, 2023. SOFT CLOSE.
Directions – From Floyd VA Stoplight – Take Route 221 S for 11 miles, just past Willis Village Mart to property on the right on the corner of Floyd Hwy and Merifield Rd. See sign.
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.
BUYER’S PREMIUM – TEN PERCENT (10%): Buyer’s Premium shall be added to the final bid price place online, which will determine the Total Contract Sales Price. Bidders hereby understand that the Buyer’s Premium shall 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).
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 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 Buyer’s Broker Fee of (2%) is offered on any pre-auction offers that are properly completed and submitted on the appropriate forms provided by the auction company.
10% Buyer’s Premium will be added to final high bid to arrive at contract price. Earnest Money Deposit of $5,000 required on day of sale (April 14th, 2023). Close on or before May 30th, 2023. Subject to seller confirmation. Property sold “as is, where is, with any and all faults.” Buyer is expected to complete their own due diligence. Auction starts ending at 3 PM on April 14th, 2023. 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. Download Bidder Information Pack for complete terms and conditions, purchase contract and maps.