January 7, 2021

On Sale Soon: Commercial Land & Building – 1624 E Washington Street, Maricopa County, Phoenix AZ. (FEDERAL OPPORTUNITY ZONE)

Item Id: Paul McCoys Commercial Building

Starting Minimum Bid: $952,000.00

Description:  Commercial Building of approx. 14,847 sq. ft and 4 lots (31,400 sq. ft)  located at 1624 E. Washington Street, Phoenix Az. 85034 “SOLD AS IS WHERE IS”

The APN#’s are 115-04-094, 115-04-095, 115-04-096 & 115-04-097

Zoning:  C-3

Built:  1920, block construction.  2019 taxes:  $11,370.89.

Rental:  Current rents of approximately $5000.  5-7 tenants all on non-written month-to-month leases.

There was a recent appraisal value of $1,140,000.00 (we do not have a copy).

A document preparation fee of $1275 (payable to seller) will apply. Full payment must be received within (7) days of winning bid. Any bidder who does not complete the sale within 7 days from the close of auction will be considered in default. Seller has the right to proceed with the next highest bidder.

Liens: All liens taxes encumbrances will be paid from escrow.

Bidding Guide: Please review the bkassets.com bidding guide for terms of
There are past due taxes; however, they will be paid from Escrow. Escrow Company – Prestige Title Co.

Location: The property is located on the Phoenix Light Rail Line specifically at 1624 E. Washington St. Phoenix, Az. 85034

Notes: A document preparation fee of $1,275 will apply. This is all we know about this item. ALL fees/liens owed on this property will be paid through escrow. A bid submitted by a buyer is an agreement to our Terms. Buyers should not bid unless they fully intend to complete the sale in accordance with our Terms (to view terms, click “Terms” tab in Seller Store header at top of ad).

Bidders should familiarize themselves with BKAssets.com policy regarding ‘Proxy Bidding’ (see ‘Bidding Guide’ on www.bkassets.com Home Screen). BKAssets is not responsible for connectivity issues, or Internet transmission times, when submitting an auction bid near the close of auction. The auction process does not extend past the set close time of the auction and bidders are solely responsible for the timing and receipt of their bids if they elect not to utilize Proxy bidding.

Legal Info: Upon final bid and payment to escrow, a purchase contract will be prepared and required to be signed by buyer

Payment Info: Cashier’s Check and or Bank Wire