Archive for August, 2011

PA’s Picks – Join Us in Some Apartment Hunting

August 27th, 2011 by melissa
With rentals finding prominence in the real estate market, we’re looking at some apartment building auctions with promising investment potential.

Check out RealtyBid’s 64-unit apartment complex in Hartsville, South Carolina. Spread out over 7 acres and comprised of 8 separate buildings, this complex also provides an 800SF storage building. We like this pick for its propitious ROI – while the property does need renovations, the Potential Gross Income is projected at over 140K annually. This listing is also strategically located in an area that has a high demand for this type of apartment unit. The online auction is currently live and accepting bids until September 8th.http://www.realtybid.com/

We also noticed the Pemberton Manor Apartment complex in Salisbury, Maryland. Being offered by HUD, PA is picking this one for its sheer volume of inventory: with 29 one-bedroom, 118 two-bedroom, and 62 three bedroom units, you’ll get a lot of bang for your buck on this property. Auction date is September 22nd.

http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/mfh/pd/pemb

 

 

PA’s Picking Some Traffic-Stopping Commercial Properties

August 22nd, 2011 by melissa
When it comes to real estate, it’s all about location, location, location, especially when that location can make or break a business. With that in mind, some very strategically-placed service stations caught our attention this week. 

Fisher Auction Company’s property in Lake Worth, Florida on August 31st offers an .82 acre parcel permitted for a Flex/Express car wash. PA digs this one for its considerable income potential. With its adjacency to a 7-11 convenience store and prominent position across from a major shopping center, we love the lucrative opportunity this pick presents. By the way, did we mention that this service station is located at an intersection with a traffic count of approximately 70,000? Not bad…
http://www.fisherauction.com/auction_detail.php?id=163062#titleTop

Another promising money-maker is Tranzon’s gas station and auto body shop in West Orange, New Jersey up for auction on September 15th. One block from the town’s Main Street and with close accessibility to 3 major highways, we’re enamored with this property for its prime location in the heart of a high occupancy commercial and residential neighborhood. Fully equipped with 4 gas pumps, an office, and 2 work bays, this key property includes a 4,000SF separate auto body shop with 4 work bays, making this a serious investment opportunity.
http://www.tranzon.com/Propertydetail.aspx?id=9498

Spotlight On… Bret Richards, CAI, Auctioneer and Sales Manager with Hudson & Marshall

August 18th, 2011 by melissa

Spotlight on . . .Bret Richards

This summer we’re launching our new website feature, “Spotlight On…” We’ll be profiling a real estate auction company on our blog to showcase that organization and present an interview with a principal staff member of the selected company. Topics relevant to the current market will be explored.

To kick off this latest addition, we’re starting with nationally renowned real estate auction company Hudson & Marshall. We recently spoke with Bret Richards, CAI, Auctioneer and Sales Manager with H&M, discussing how the influx of foreclosures is affecting today’s real estate auction market.

Bret Richards, CAI, Auctioneer and Sales Manager with H&M

 

PA: How long have you been in the auction business?
BR: Nine years, all of them with Hudson & Marshall.

PA: What’s your role with the company?
BR: I’m one of the auctioneers and one of the sales managers. When I’m here in the office I direct the auction route (online, ballroom, on-site) for whatever makes the most sense. I also work with the marketing vendors to put a marketing plan together, and I’m an auctioneer so when we’re on the road, I’m one of the guys up there selling. Read the rest of this entry »

PA’s Picks – We’re Looking at Luxury Again

August 15th, 2011 by Ori Klein

We’ve got our eye on some beauties up for auction this week.

Take a look at Tranzon’s September 22nd auction in Purchase, NY. Referred to as “one of the finest country mansions in Westchester County” by the New York Times, we love this property for its no-nonsense class. With an all-copper bar in the card room, wide mahogany doors with bronze hinges, and a library that boasts hand-carved oak paneling imported from England, you can only imagine the craftsmanship that went into the fine detailing of this estate. Tucked away on over 8 lush acres, the property was designed by the legendary New York architecture firm of McKim, Mead & White. Encompassing 48 rooms that amount to approximately 14,000 square feet of living space, the mansion comes with a four-car garage, pool, gazebo, 2 staff cottages, wine cellar and 10 fireplaces, just to name a few of its charms.

www.stanfordwhiteauction.com

For those who are looking for a little less space but equal top-notch quality, check out Last Bid Real Estate’s 10,700 square foot mansion in Irons, Michigan. Built in 2001 by a German engineer with over 1.5 million dollars invested, the lucky owner will be pampered with an indoor pool, sauna, hot tub, and a beautifully designed kitchen with granite and coriander countertops. We picked this one for its impeccable woodwork and masonry, exhibiting the meticulous attention to detail that went into the mansion’s construction. Sitting on a 10-acre lot with a 6-stall garage, the property will be auctioned on September 1st.

http://www.lastbidrealestate.com/details.cfm?ID=583732

 

 

Luxury – lux lux lux auctions

August 11th, 2011 by Ori Klein

This week we’re seeing a lot of luxury on the auction block.

Outdoor aficionados will find some swanky digs up for grabs. For those who must have water-related activities and views at their fingertips, check out J.P. King’s August 13th auction of 12 premier waterfront condominiums overlooking the spectacular Flathead Lake in Lakeside, Montana. 12 Premier Waterfront Condominiums Overlooking Beautiful Flathead LakeEach unit boasts a spacious layout, high ceilings, quality fixtures and fully-loaded master bath. With every condo easily accessible to the resort/dock boat slips, stone spa overlooking the lake, fitness facility and outdoor fire pits, residents have a plethora of ‘all things al fresco’ right outside their door, including swimming, boating, sun bathing, or just enjoying the view. http://www.jpking.com/index.asp?r=3409&aid=3778&p=3778

For those with a hankering for the country, take a look at Concierge Auction’s 7,000sf Gentleman’s Farm in, where else, Farmville, Virginia. Beautifully placed on 115 acres bordering the Wills River, amenities – to name a few – include a game room, state-of-the-art kitchen, fitness center and carriage house. For those outdoor endeavors, you’ve got your pick: swimming in the pool, fishing in the 1-acre spring fed pond, hiking, bird watching, four wheeling, or just plain chilling out. And let’s not forget about the extensive features for equestrian use, including an outdoor arena, 6-stall barn wash & tack room, hay loft and huge equipment storage shed. Bidding has already begun and will run until August 25th. http://www.conciergeauctions.com/component/jomestate/detailed/112/Big-Step-Virginia

 

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