LOGAN ESTATES MOBILE HOME PARK - RUSSELLVILLE, KY

by Thomas R. Hunt Auctioneers

When

04/26/2018 5:33 PM Central Daylight

Where

272 Emerson Bypass Road, Russellville, KY

How

Live / Online

Notes

CONTACT JEFF HARNED - AUCTIONEER/CAI
(270) 590-2332

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LOGAN ESTATES MOBILE HOME PARK

MULTIPLE USES FOR THIS FANTASTIC LOCATION 

CURRENT USE IS A 24.3 +/- ACRE MOBILE HOME PARK 

130 +/- PADS; ALL UTILITIES, INCLUDING SEWER ARE ONSITE

ZONED RM-4

 The dissolution of a partnership leaves the Logan Estates Mobile Home Park with an absentee owner and without onsite management to oversee leasing. The park is conveniently located between two major roads, with schools, employment, retail, and adjacent to the new by-pass. The park's current owner has invested in upgrades, including individually metered water and new waterlines, which are now owned and maintained by the City of Russellville. All interior roads, as well as the ample shade trees and green spaces, appear well maintained. The parks proximity and coveted R-4 zoning make this an attractive property with multiple uses, but onsite management and a higher occupancy rate will make this mobile home park a real cash cow.  Currently, 24 lots are leased at $175/month on a month to month basis with some delinquency.

TERMS AND CONDITIONS:

Buyer Premium: A 7 percent buyer premium will be added to the high bid to determine the contract price on the real estate.

Terms and Down Payment: The down payment on the real estate shall be $50,000 in the form of cash or good check (with proper identification) or certified funds due at the conclusion of the auction. The closing shall be within 45 days of the auction date.

The property is sold without contingencies of any type such as further inspections, usability, or the ability of the buyer to secure financing, and subject to any valid easements. All property is sold “as is” both surface and subsurface.

The auctioneer shall control the bid increments, which may be changed during the auction at his/her discretion.

Taxes: Real Estate Taxes will be prorated between buyer and seller as of closing date.

Deed: The purchaser shall receive either a General Warranty Deed or a
Special Warranty Deed, depending of the situation.

Possession:_____

Inspection: The real estate may be viewed prior to the auction date by appointment with Thomas R. Hunt Auctioneers, and will be available for inspection one hour before sale time on the day of the auction. Prospective buyers are advised to inspect the property to their satisfaction as it will be sold “as is” with no warranties expressed or implied.

Who May Bid: Any qualified bidder, including the auctioneer and any of the auctioneer's agents, may bid. Likewise, the auctioneer may,under Kentucky law, reject the bid from any bidder deemed unqualified or unfit to bid.

AGENCY: Thomas R. Hunt Auctioneers, Inc. Agents and Representatives are agents of the Seller. Buyer and/or Bidder agrees to hold harmless and indemnify Thomas R. Hunt Auctioneers, Inc and its Agents and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.

Auctioneers Note: All information contained in this brochure and all related materials should be verified by all interested parties. All interested bidders are responsible for conducting their own independent inspections and tests. Information contained herein was obtained from sources deemed to be reliable. However, neither the Auctioneers, Agents, nor Sellers shall be responsible for any errors or omissions herein. Announcements made the day of the sale shall take precedence over any prior advertising or other information

Conducted By

Thomas R. Hunt Auctioneers

270-782-2299

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