This wonderful investment portfolio includes single family homes and trailers along with duplexes, triplexes, quadplexes, trailer parks, and vacant land. Pick and choose what works for you and your investment goals.
Otis took a lifetime to put this portfolio together and the family is giving you the opportunity to buy it all at Absolute Auction. You set the price. Don’t miss this opportunity!
Rocky Knob Trailer Park
Auction Tract 1:
Rocky Knob Trailer Park
Approved For 100 Spaces Currently Houses 31 Rented Spaces.
24 Park Owned Trailers
Trailer Spots Rent For $125 And There Are 7 Spots Currently Rented.
Rent Roll Potential $101,200/Annual
GPS Stillbrook Dr & Joyce Park Dr, Bassett, VA
Property ID: 121240008
The Trailer Park and Duplexes share a well. The Trailer Park will be sold as one unit, the three duplexes will be sold individually. There will be a shared well agreement which means they will all pay a prorated share of the well, electric bill and maintenance. Each unit will be responsible for maintaining the water line to their structure. PSA water is on the adjacent road and if a unit owner decides to run PSA water to their property they would be exempt from payment and maintenance. The well is located on Auction Tract 4.
Auction Tract 2:
Oak Grove Park
12 Space Trailer Park. Units 1-12
7 Park Owned Trailers
5 Lot Rentals
GPS Oakgrove Park Ln, Bassett, VA
Property IDs: 001830001 and 135280025
Orchard Manor Duplexes
Auction Tract 3:
Units 26 & 27
Property ID: 135280024
Auction Tract 4:
Units 22 & 23
Property ID: 135200001
Auction Tract 5:
Units 24 & 25
Property ID: 135140016
GPS Hephill Dr, Bassett, VA
Duplexes and QuadPlexes, Ebb Drive and Grace Drive
Auction Tracts 6 thru 11. Units A-F also share a well. The units will be offered separately with the same type shared well agreement. Again, PSA water is adjacent to this property. If an owner hooks to PSA water they will be exempt from the shared well agreement.
Auction Tract 6:
Units 13 & 14 $6,300/Potential Annual
Property ID: 077720001
Auction Tract 7:
Units 15 & 16 $6,000/Potential Annual
Property ID: 077720006
Auction Tract 8:
Units 17, 18, 19 & 20 $12,000/Potential Annual
Property ID: 077720007
Auction Tract 9:
Units 1, 2, 3 & 4 $11,100/Potential Annual
Property ID: 077720003
Auction Tract 10:
Units 5, 6, 7, 8 $11,700/Potential Annual
Property ID: 077720004
Auction Tract 11:
Units 9, 10, 11 & 12 $ 8,700/Potential Annual
Property ID: 077720005
GPS Ebb Dr & Grace Dr In Bassett, VA
Auction Tract 12:
11 Space Trailer Park
9 Rented 2 Vacant
4 Park Owned Trailers $12,720/Potential Annual
5 Lots Rented $7,500/Potential Annual
Property ID: 128160009
GPS Salinas Dr In Bassett, VA
Auction Tract 13:
4 Unit Trailer Park And All Trailers Are Park Owned. Also Includes Garage And Well On Springhouse Lane, Bassett (At Intersection of Hwy 57 and Springhouse Lane).
4 Trailers Rent For $13,800/Potential Annual
Garage $ 1,800/Potential Annual
Total Rent $15,600/Potential Annual
Property ID: 161770005
GPS Springhouse Ln, Bassett, VA.
Auction Tract 14:
575 Colonial Hill Dr just off Hwy 220
5 Units Total $15,900/Potential Annual
Property ID: 067890000
Auction Tract 15:
263 Graceland Dr.
3 Units Total $9,000/Potential Annual
Property ID: 248750009
McKinley Drive – Put McKinley Dr in GPS, I will have Signs Up
Auction Tract 16:
McKinley Dr Duplex Unit 1 & 2, Plus Adjacent Building, Needs Repair
Property IDs: 248150001, 092710004 & 121245022
Auction Tract 17:
House 78 McKinley Dr $3,900/Potential Annual
House 80 McKinley Dr $3,600/Potential Annual
Property IDs: 163600000 & 163540000
Auction Tract 18:
McKinley Dr. Clubhouse
Plus Extra Lot At Top Of Hill
$4,200/Potential Annual – No Cell Tower Income
Property IDs: 121240004 & 121240005
Auction Tract 19:
36 Valentine Ct, Martinsville, VA
Property ID: 121240009
Auction Tract 20: – Removed from Auction
1250 Jarrett Dr
Property ID: 228810001
Auction Tract 21:
1163 Jarrett Dr (House) &1167 Jarrett Dr (Trailer)
Property ID: 176730000
Auction Tract 22:
3255 Columbus Dr
Property ID: 240950000
Auction Tract 23:
3220 Columbus Dr
Property ID: 163855005
Auction Tract 24:
448 Sanville Heights Rd
Property ID: 214210000
Auction Tract 25:
1512 Crestridge Rd – Lot 1
Property ID: 092800000
Auction Tract 26:
1514 Crestridge Rd – Lot 2
Property ID: 092800001
Auction Tract 27:
140 Carson Ln
Property ID: 082890000
Auction Tract 28:
280 Smith Rd, Bassett
Property ID: 121240019
Auction Tract 29:
225 Moses Moore Rd & 23 Lawton Dr
Property ID: 154030000
Auction Tract 30:
1408 Summitt Rd, Martinsville, VA
Property ID: 121240010
Auction Tract 31: Landcaster Hill Subdivision
44 Vacant Platted Lots Ready For A New Owner
GPS Nolen Rd
Property IDs: 162940002, 162940003, 162940004, 162940005, 162940006, 162940007, 162940008, 162940009, 162940010, 162940011, 162940058, 162940012, 162940013, 162940014, 162940015, 162940016, 162940017, 162940018, 162940019, 162940020, 162940021, 162940022, 162940023, 162940024, 162940025, 162940026, 162940027, 162940028, 162940029, 162940030, 162940031, 162940032, 162940033, 162940034, 162940035, 162940036, 162940037, 162940038, 62940043, 162940044, 162940045, 162940046, 162940047, 162940055
Auction Tract 32: Bartlow Drive Vacant Lot
GPS Bartlow Dr
Property ID: 121240006
Auction Tract 33: Ebb Drive Vacant Lot
Property IDs: 077720002 & 250150000
GPS Ebb Dr
Note the numbers used in advertising are based on potential revenue.
Use GPS for directions. All auction tracts are in Bassett except auction tracts 19 and 30 in Martinsville.
Phone GPS gets you there fine!
We will not be doing open houses. Feel free to do drive by and look at the outside of properties. We will pass along any information the family has but these properties were managed by Otis alone and information is limited.
Everything is on well and septic systems.
7% Buyer’s Premium
TERMS & CONDITIONS OF THE AUCTION
- REGISTRATION: Bids will be accepted only from registered bidders. Registration begins at Noon EDT. Please bring a driver’s license for identification.
- AUCTION SALE: All property will be sold absolute to the high bidder regardless of price. ALL SALES ARE FINAL. All property is auctioned “AS IS, WHERE IS,” with all faults in its condition at the time of sale without recourse by way of refund, reduction of the purchase price, or otherwise. Bidders should perform such independent investigation with respect to the property as they deem necessary or appropriate before bidding.
- FINANCING: Your bidding and purchase of the property is not conditional upon financing. Be sure you have arranged financing, if needed, and are capable of paying cash at closing.
- LIABILITY: Bidders inspecting property enter at their own risk. Auction Company assumes no risk for bodily injury or damage to personal property.
- BIDDING: The auctioneer will determine all bid increments. All decisions by the auctioneer regarding bid acceptance are final.
- ANNOUNCEMENTS: Announcements on day of sale take precedence over all prior releases, verbal and written, concerning this auction sale.
- BUYER’S PREMIUM: The Buyer’s Premium on the real estate is seven percent (7%) of the high bid amount. The Buyer’s Premium will be added to the high bid to determine the final contract sales price.
- AGENCY: The Auction Company and its representatives represent the Seller.
- REAL ESTATE DEPOSIT: A deposit in the amount of ten percent (10%) of the contract sales price will be required on day of sale. The deposit is payable by cash, cashier’s check, business or personal check payable to Woltz & Associates, Inc. Escrow Account.
- TRANSFER OF TITLE TO REAL ESTATE & SETTLEMENT: The real estate will be conveyed by special warranty deed, free and clear of liens, and subject to all rights, reservations, covenants, conditions, easements, rights-of-way, and restrictions of record, as the same may lawfully apply to the Property, and to all matters which would be disclosed by a survey and inspection of the Property. The balance of the purchase price is due at settlement on or before June 27, 2022.
- Boundary Lines: Boundaries on aerial photos and topo maps are approximate.
- GENERAL: The information contained in the brochure, on the internet or otherwise, is subject to verification by all parties relying on it. No liability for its accuracy, error, or omissions is assumed by the Seller or the Auction Company.
- OTHER DISCLOSURES: Orchard Manor-Auction Tracts 2 thru 5. The Trailer Park and Duplexes share a well. The Trailer Park will be sold as one unit. The three duplexes will be sold individually. There will be a shared well agreement, and each unit will all pay a prorated share of the well, electric bill, and maintenance. Each unit will be responsible for maintaining the water line to its structure. Public Service Authority (“PSA”) water is on the adjacent road, and if a unit owner decides to run PSA water to their property, they would be exempt from payment and maintenance. The well is located on Auction Tract 4.
Ebb Drive and Grace Drive-Auction Tracts 6 thru 11 also share a well. These units will be offered separately with the same type of shared well agreement as Auction Tracts 2 thru 5. Again, PSA water is adjacent to this property. If an owner hooks to PSA water, they will be exempt from the shared well agreement. The well for these units is located on Auction Tract 9.
- Auction Tract 1: GIS, Layout, Aerial
- Auction Tract 2: GIS, Layout, Aerial
- Auction Tract 3: GIS, Layout, Aerial
- Auction Tract 4: GIS, Layout, Aerial
- Auction Tract 5: GIS, Layout, Aerial
- Auction Tract 6: GIS, Layout, Aerial
- Auction Tract 7: GIS, Layout, Aerial
- Auction Tract 8: GIS, Layout, Aerial
- Auction Tract 9: GIS, Layout, Aerial
- Auction Tract 10: GIS, Layout, Aerial
- Auction Tract 11: GIS, Layout, Aerial
- Auction Tract 12: GIS, Layout
- Auction Tract 13: GIS, Layout, Aerial
- Auction Tract 14: GIS, Aerial
- Auction Tract 15: GIS, Aerial
- Auction Tract 16: GIS, Aerial
- Auction Tract 17: GIS, Aerial
- Auction Tract 18: GIS, Aerial
- Auction Tract 19: GIS, Aerial
- Auction Tract 20: GIS, Aerial
- Auction Tract 21: GIS, Aerial
- Auction Tract 22: GIS, Aerial
- Auction Tract 23: GIS, Aerial
- Auction Tract 24: GIS, Aerial
- Auction Tract 25: GIS, Aerial, Plat
- Auction Tract 26: GIS, Aerial , Plat
- Auction Tract 27: GIS, Aerial
- Auction Tract 28: GIS, Aerial
- Auction Tract 29: GIS, Aerial
- Auction Tract 30: GIS, Aerial
- Auction Tract 31: GIS, Aerial
- Auction Tract 32: GIS, Aerial
- Auction Tract 33: GIS, Aerial
- Title Commitments
- Real Estate Purchase Agreement
- Lead-Based Paint Disclosure