118 UNIT APARTMENT COMPLEX, COLUMBUS OHIO, FIRE SALE!!! Start Price USD 900,000.00 Current Price USD 900,000.00 Time Left - Bid Count 0 Buy It Now Price - Reserve Price - Start Time Monday, August 25, 2008 End Time Wednesday, September 24, 2008 Location Columbus, Ohio See more about '118 UNIT APARTMENT COMPLEX, COLUMBUS OHIO, FIRE SALE!!!' Description 9-11-08 742p EDT....WE HAVE PURCHASED AN ADDITIONAL 30 DAYS FROM THE LENDERS....NEED TO CLOSE BY 10-15-08...   8-09-08 534P EDT...WE HAVE BEEN SUCCESSFUL IN 'BUYING' MORE TIME WITH THE LENDERS.... WE HAVE EXTENDED THE CLOSING DATE UNTIL SEPTEMBER 12, 2008...CALL WITH OFFERS.   118 UNIT APARTMENT COMPLEX     COLUMBUS OHIO 43207 LOCATED AT CORNER OF SMITH ROAD AND LOCKBOURNE ROAD MAIN ENTRANCE AT CORNER OF SMITH ROAD AND SMITH COURT THERE ARE TEN BUILDINGS CONSISTING OF 76 TWO BEDROOM UNITS AND 42 ONE BEDROOM UNITS. THESE ARE GARDEN STYLE , WALKUP SITUATED ON 5.75 ACRES MORE OR LESS IN THE NEAR SOUTH EAST PART OF COLUMBUS OHIO. I OWE $1.2 MILLION ON THIS COMPLEX. I AM LOOKING FOR A BUYER TO PAY ME $750,000. I NEED A BUYER WHO CAN CLOSE YESTERDAY. ALL OF THE LIEN RELEASES WITH THE PRESENT LENDERS HAVE BEEN NEGOTIATED AND ARE AVAILABLE FOR CLOSING. CLOSING WILL BE HELD AT AMERITITLE, 150 EAST MOUND STREET, COLUMBUS, OHIO 43215 AT CLOSING YOU WILL RECEIVE AN OHIO GENERAL WARRANTY DEED WITH NO ENCUMBERANCES. AT CLOSING YOU WILL BE CREDIT FOR REAL ESTATE TAXES THROUGH THE DATE OF CLOSING. IN OHIO REAL ESTATE TAXES ARE PAID IN ARREARS. FOR EXAMPLE, IN JANUARY 2009 YOU WILL BE PAYING FOR THE FIRST HALF OF 2008. POSSESSION IS AT CLOSING. PROPERTY SOLD IN 'AS-IS' CONDITION. I HAVE OWNED THIS PROPERTY SINCE 1996, IT WAS SOLD ON LAND CONTRACT IN 1998. THE LAND CONTRACTEE DEFAULTED IN 2005. IN 2007 THE COMPLEX WAS SOLD TO A MONUMENTAL FUNDING OF CENTURY CITY CALIFORNIA. THEY PAID A DEPOSIT, COMMNENCED REHAB, REPORTEDLY SPENDING IN EXCESS OF $400,000, AND WITHOUT CLOSING THEY WERE CLOSED DOWN BY THE CALIFORNIA ATTORNEY GENERAL FOR MORTGAGE FRAUD. DURING THEIR PERIOD THEY WERE OPERATING THE COMPLEX, THEY EVICTED ALL OF THE TENANTS TO ENABLE THEM TO COMPLETELY REHAB ALL OF THE UNITS. UPON THE DEMISE OF MONUMENTAL FUNDING THE COMPLEX WAS LEASED TO TWO INDIVIDUALS WHO COMMENCED ADDING TENANTS. IN MAY OF 2008 THERE WAS A FIRE IN 1814 SMITH COURT, WHICH CAUSED THE TENANTS IN THIS BUILDING, PLUS ADDITIONAL TENANTS IN OTHER BUILDINGS TO BE REMOVED AND THE COMPLEX 'BOARDED' HERE IS A DETAIL OF THE UNITS AND PICTURES PIX 1 IS A VIEW OF THE MAIN ENTRANCE AT THE CORNER OF SMITH ROAD AND SMITH COURT. 1124 SMITH ROAD , WEST VIEW IS SHOWN IN PIX 2 AND EAST VIEW IN PIX 3. THIS IS A TWELVE UNIT, TWO BEDROOM BUILDING THAT HAS UNDERGONE RENOVATION WITH MONUMENTAL FUNDING. THIS PROPERTY IS AUDITORS PARCEL 010-117344-00. THIS IS A COMBINED PARCEL WITH 1826 SMITH COURT. 1826 SMITH COURT, WEST VIEW PIX 4 AND EAST VIEW PIX 4. THIS IS A 20 UNIT ONE BEDROOM BUILDING WHICH WAS THOROUGLY REHABBED BY MONUMENTAL. AUDITORS PARCEL NUMBER 010-117344-00. THIS IS A COMBINED PARCEL WITH 1124 SMITH ROAD 1814 SMITH COURT, SOUTH VIEW PIX 6, NORTH VIEW PIX 7. THIS IS A 22 UNIT ONE BEDROOM BUILDING. THIS UNIT HAD A FIRE IN MAY OF 2008. 8 OF THE UNITS WILL NEED TO HAVE DRYWALL REMOVED AND REHUNG, THE REMAINDER WILL NEED SMOKE REMOVAL. THERE IS DAMAGE TO THE ROOF FROM THE FIRE COMPANY. MONUMENTAL REHABBED THIS PROPERTY IN LATE 2007.. AUDITORS PARCEL 010-0899601-11 1817 SMITH COURT, PIX 8 IS AN EAST VIEW, PIX 9 IS A WEST VIEW. THIS IS AN 8 UNIT TWO BEDROOM BUILDING. REHABBED BY MONUMENTAL IN 2007. AUDITORS PARCEL 010-132189.00. 1827 SMITH COURT. PIX 10 IS AN EAST VIEW. THIS IS AN 8 UNIT TWO BEDROOM BUILDING. REHABBED BY MONUMENTAL IN 2007. AUDITORS PARCEL 010-132190-00 1102 SMITH ROAD, PIX 11 SHOWS EAST VIEW, PIX 12 SHOWS WEST VIEW. THIS IS A 23 UNIT TWO BEDROOM BUILDING THAT WAS PARTIALLY REHABBED BY MONUMENTAL IN 2007. AUDITORS PARCEL 010-089600-00 BECAUSE I WAS NOT ABLE TO LOAD ALL OF MY PIX ON EBAY THERE ARE FOUR BUILDINGS NOT SHOWN. 1808 LOCKBOURNE ROAD. THIS IS AN 8 UNIT, TWO BEDROOM BUILDING. AUDITORS PARCEL 010-112203-00. THIS IS A COMBINED PARCEL WITH 1816 LOCKBOURNE ROAD 1816 LOCKBOURNE ROAD. THIS IS AN 8 UNIT TWO BEDROOM BUILDING. AUDITORS PARCEL 010-112203-00. THIS IS A COMBINED PARCEL WITH 1808 LOCKBOURNE ROAD 1824 LOCKBOURNE ROAD. THIS IS AN 8 UNIT TWO BEDROOM BUILDING. AUDITORS PARCEK 010-089601-00 1836 LOKBOURNE ROAD. THIS IS AN 12 UNIT TWO BEDROOM BUIILDING. AUDITORS PARCEL 010-089608-00. YOU CAN ACCESS THE WEB SITE FOR THE FRANKLIN COUNTY OHIO AUDITOR AT 'FRANKLINCOUNTYOHIO.GOV/AUDITOR'. GO TO THE QUICK LINKS UPPER RIGHT, THEN GO TO PROPERTY SEARCH.. BEAR IN MIND THAT IN OHIO, BY LAW, THE AUDITORS TAXABLE VALUE IS 1/3RD OF THE AUDITORS APPRAISED VALUE ALL APARTMENTS ARE METERED FOR INDIVIDUAL ELECTRICITY ALL APARTMENTS EXCEPT THIS IN 1826 SMITH COURT ARE METERED FOR NATURAL GAS. 1826 SMITH COURT, HAS ONE GAS METER FOR ALL OF THE APARTMENTS. WATER IS PROVIDED BY THE CITY OF COLUMBUS. EACH BUILDING HAS ONE CENTRAL WATER METER SEWER IS PROVIDED BY THE CITY OF COLUMBUS. SEWER COSTS ARE BASED ON WATER USAGE. TRASH CONTAINERS ARE PROVIDED BY THE CITY OF COLUMBUS. THEY ARE EMPTIED ON A WEEKLY BASIS. ELECTRICITY IS PROVIDED BY AMERICAN ELECTRIC POWER NATURAL GAS IS PROVIDED BY COLUMBIS GAS OF OHIO PROPERTY AND CASUALTY INSURANCE IS PRESENTLY PROVIDED BY A LARGE NATIONWIDE COMPANY, HOWEVER THEY MAY NOT RENEW THE POLICY. INSURANCE CAN BE OBTAINED THROUGH THE OHIO FAIR PLAN, WHICH IS STATE SPONSERED I DO NOT HAVE ANY FINANCIAL INFORMATION INCLUDING PROFIT LOSS STATEMENT, RENT ROLLS, TAX RETURNS ETC... A MORTGAGE LOCATION SURVEY PREPARED BY A LICENSED OHIO SURVEYOR IS AVAILABLE. MARCUS AND MILLICHAP A REAL ESTATE INVESTMENT BROKERAGE COMPANY IN 2005 HAD THE PROPERTY FOR SALE FOR THE PREVOUS LAND CONTRACTOR. THEY PREPARED AN 'OFFERING MEMORANDUM'. I HAVE COPIES OF THIS AVAILABLE. HOWEVER I AM UNABLE TO SCAN ONTO THIS LISTING. ENVIROMENTAL. WE HAVE A PHASE ONE ENVIROMENTAL STUDY THAT WAS COMPLETED IN 1996. COPIES ARE AVAILABLE FOR YOUR REVIEW AN APPRAISAL WAS CONDUCTED BY COLUMBUS HOUSING PARTNERS IN 2004 AS PER OF A PACKAGE TO BUY SEVERAL PROPERTIES IN COLUMBUS OHIO. THE APPRAISED IS $1.4 . A COPY IS AVAILABLE I WAS ONLY ABLE TO LOAD 12 PIX ON EBAY. I HAVE MORE PIX OF THE REMAINDER OF THE BUILDINGS. THIS PROPERTY WILL BE SOLD BY AUGUST 12, 2008. IF YOU WANT TO BUY IT , PERFORM YOUR DUE DILIGENCE AND BE READY TO CLOSE ON AUGUST 15, 2008... THIS PROPERTY IS VACANT. I DO NOT HAVE ANY FINANCIALS CALL ME AT 614.668.1630 IF YOU HAVE ANY QUESTIONS.   EDBOWMAN     Place a Bid!