Muscatine, IA REAL ESTATE & ESTATE AUCTION

Auction held at the Muscatine Mall, 1903 Park Avenue.

SOLD FOR

HOME #1 - $122,500

HOME #2 - $93,500

Open House on Friday, May 5^th from 4-5 pm.

View the Photo Gallery for updated pictures of this auction.
 
Possible two ring auction - 1 on Household items - 1 on Tools

Auctioneer’s Note:This auction presents an opportunity to buy one or two income producing properties, both located side by side and both being well cared for.  Auction will start at 10AM with the personal property.  Home #1 & Home #2 will sell at the Mall location at 12:00 Noon, followed by the truck.

Homes will be “Selling Choice with the Privilege.”
High bidder may buy Home #1 or Home #2 for their high bid OR both Homes for their high bid each.

Home #1 – 3 Apartment Conversion – 2 Story Home
Located at 111 East 5^th Street, Muscatine, IA

This three apartment conversion has 2,932 sq.ft. of total living space and has (1) 2 bedroom apartment downstairs along with (2) 1 bedroom apartments upstairs.  Unit #1 is the downstairs apartment which has a living room with a fireplace and a formal dining room with a beautiful built in buffet.  The updated kitchen has a Samsung side by side refrigerator and Whirlpool smooth top electric stove.  Off of the kitchen is a ¾ bath with washer & electric dryer.  There are two bedrooms in this unit, one with built in storage & closet and the second has hardwood floors.

Unit #2 is the front upstairs 1 bedroom apartment with a living room, alley kitchen with refrigerator & electric stove and a ¾ bath.  Unit #3 is the back upstairs 1 bedroom apartment with a living room, eat in kitchen with refrigerator & electric stove and a full bath.  Unit #3 has front & back stairway entrances.

The basement has two gas forced air furnaces(Unit #1 has central air) and two electric water heaters.  Unit #1 has a 200 amp breaker box, Unit #2 & #3 each have a 100 amp breaker boxes.

The property has a 36’x40’ detached heated garage/workshop with alley access and 200 amp breaker box.  Property is Zoned R5-Multi-Family Residence and is situated on a 40’x140’ lot.

Included:     Unit #1 – Refrigerator, Stove, Washer & Dryer.
Unit #2 – Refrigerator, Stove & Window air unit.
Unit #3 – Refrigerator, Stove & Window air units.

Not included:  Air compressor in garage, Tenant’s personal property.

Real Estate Taxes on Home #1
Gross/Net Taxes: $2,746.00
Assessed Value: $78,310

Home #2 –   2 Apartment Conversion – 2 Story Home
Located at 113 East 5^th Street, Muscatine, IA

This property is very unique as the beautiful original woodwork and open stairway with leaded glass window have been preserved.  This two apartment conversion has 1,763 sq.ft. of total living space and has (2) spacious 1 bedroom apartments.

The main level apartment has a living room with fireplace and a formal dining room with bay leaded glass windows & pocket doors.  The large updated kitchen features a breakfast bar, pantry cupboard, refrigerator & electric stove.  Also on the main level is the bedroom and full bath.  This unit also has a sunroom with sliding glass door to the backyard. 

The main level apartment has a stairway to the basement which features a bonus room which could be a family room or non conforming bedroom, laundry room with washer & dryer and a ½ bath.  Also in the basement are (2) gas forced air furnaces with central air, gas hot water heater, electric hot water heater and 100 & 200 amp breaker boxes.

The open stairway leads to the upstairs 1 bedroom apartment with a large living room with original woodwork throughout.  The eat in kitchen has a pantry closet, refrigerator, electric stove, washer & dryer and a full bath.

The property has a 20’x20’ detached garage and two concrete parking spaces with alley access.  Property is Zoned R5-Multi-Family Residence and is situated on a 40’x140’ lot.

Included:     Downstairs unit – Refrigerator, Stove, Washer & Dryer
Upstairs unit – Refrigerator, Stove, Washer & Dryer

Not included: Tenant’s personal property.

Real Estate Taxes on Home #2
Gross/Net Taxes: $1,908.00
Assessed Value: $84,340

TERMS ON HOME #1 & HOME #2

TERMS: 10% down payment on May 19, 2017.  Balance due at closing with a projected date of July 5, 2017, upon delivery of merchantable abstract and deed and all objections have been met.
POSSESSION: Projected date of July 5, 2017, subject to tenant’s rights.
REAL ESTATE TAXES:To be prorated to date of possession on the basis of the last available tax statement.  Seller shall pay any unpaid real estate taxes payable in prior years.

SPECIAL PROVISIONS:
~ 111 East 5th Street – Unit #1 is currently vacant (Landlord’s unit).  Units #2 & #3 are currently rented at $425 per month on a month to month basis and is selling subject to tenant’s rights.  The tenant is responsible for electricity & water, while the landlord is responsible for the gas.  The rent will be prorated to the date of possession, any security deposits, if any, will be transferred at closing.  It is the responsibility of the new buyer to give tenants notice, if so desired.
~ 113 East 5th Street – Units #1 & #2 are currently rented at $500 per month on a month to month basis and is selling subject to tenant’s rights.  The tenant is responsible for electricity, water & gas.  The rent will be prorated to the date of possession, any security deposits, if any, will be transferred at closing.  It is the responsibility of the new buyer to give tenants notice, if so desired.
~ This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.
~ This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies.
~ If in the future a site clean-up is required it shall be at the expense of the buyer.
~ The buyer acknowledges that he/she has carefully and thoroughly inspected the real estate and is familiar with the premises. The buyer is buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the same.
~ Any announcements made the day of sale take precedence over advertising.

Personal Property Sells at 10:00 AM, Truck & Air compressor will sell after the real estate.

TRUCK - TRAILER
2006 Chevy 1500 Z-71 92,228 miles, 4 door, 4x4, 5.3 liter Vortec V-8 gas engine, automatic, cloth interior with front buckets seats, power driver seat, power windows and locks, tilt, cruise, AM/FM/CD, sliding rear window, chrome grill guard, running boards, mud flaps, Truxedo bed cover, bed liner, bed rails, VIN 2GCEK13T261128314

Road Pride5’x8’ tilt bed trailer, single axle, wood floor, 2,000 GVWR, 18.5x8.5-8 tires

LAWN MOWERS - SNOWBLOWER - LAWN EQUIPMENT
Snapper LT300Lawn Tractor, 20 hours, 22hp Briggs 2 cyl. Engine, foot controls, 46” deck (new never used); Snapper 48” front mount snowblower, rear weights & chains, sells separate; Snapper Rider Lawn Cruiser, 48” deck, zero turn, joystick control, 18hp Briggs Vanguard 2 cyl. engine; Snapper Rider Lawn Cruiser, 46” deck, zero turn, joystick control, 15hp Kohler engine; Yard Machine 26” snowblower, track drive, electric start, 8hp Tecumseh engine; Snapper push lawn mower self propelled, 140cc Briggs engine; Yard Man push lawn mower, 6.5 Briggs engine, w/ bagger; Yard Man 48” front mount snow blade, sells separate; King O Lawn edger w/ gas engine; Agri-Fab H.D.1000 tilt bed lawn cart; Agri-Fab 25 Gal. pull type yard sprayer, 12 volt pump; Agri-Fab yard sweeper; Pull type yard aerator; Pull type yard thatcher; Multiple trimmers; Chainsaws; Wheel barrow; Hose reels with hose; Gas cans

TOOL BOXES - WOODWORKING EQUIPMENT - TOOLS
Kobaltstainless steel tool chest, 41’ wide, 9 drawer top, 11 drawer bottom on rollers, ball bearing slides; Kobalt stainless steel tool chest, 27” wide 5 drawer top, 6 drawer bottom on rollers, ball bearing slides; Curtis 200 gal. commercial horizontal air compressor, 3hp, 1phase; Torch set on two wheel cart w/ hoses & gauges; 2 ton fold up engine hoist; Engine stand; Hyd. Lift cart; Dewalt DW705 compound miter saw; Central Machinery 16” scroll saw; Central Machinery 14” band saw; Central Machinery 39955, 20” floor model drill press; Central Machinery 12” disc sander; Central Machinery 95088 oscillating spindle sander; Masterforce belt sander; Ridgid table saw model TS3650; Delta router/shaper; Delta 12 ½ “ portable planer; Delta sawdust VAC system; Skill saws; Cordless tools; Extension & step ladders; Wood workers bench with wood vice; Small anvil; Shop shelving; Large selection of Craftsman and other name brand wrenches and sockets, hand tools, yard tools, cords, cleaning supplies, hardware, lawn sprinklers, drill bits, all items related to woodworking and maintaining properties.

FURNITURE
Recliner chairs, coffee table, display stands, LT stereo system with 8 track play, house lamps, china hutch, hallway table, computer desk, kitchen table with 4 chairs, antique dressers, 4 post bedroom set w/ matching end table and dresser with mirror, antique light fixtures, collection of matching cup & saucer set, tea cup collection, Schwinn bicycle, antique door knobs & light fixtures. 

Owner: Arlo Gene Lessenger Estate
Elvin (Pete) & Brian Lessenger – Co-Executors
Steven D. Kundel – Attorney for Estate

For information contact Russ Lamp or Terry Hoenig
of Steffes Group, 319.385.2000
or by cell 319.212.0774 (Russ) or 319.470.7120 (Terry)

Downloads:
Day of Auction Contract