Income Producing Brick Duplex (WV)

Real Estate Auction

Location: 361 Lee Ave Clarksburg, WV 26301

GPS Coordinates: 39.278189, -80.341566

Date: Bidding is open & begins closing Thursday, October 15th at 7:00 PM

Preview: Thursday, Oct. 8th at Noon

Online Only Bidding

Click here for interactive map of the property: https://id.land/maps/f3ff03ac2baeeb96ae8a6ef5647e719d/share

Auction Opportunity! Selling at auction, 361 & 361½ Lee Avenue, Clarksburg, WV, an excellent income-producing duplex featuring two residential rental units with a current gross rental income of $2,700 per month ($32,400 annually). This established investment property offers immediate cash flow and is conveniently located near shopping, schools, restaurants, and major roadways. Whether you're an experienced investor looking to expand your portfolio or a first-time buyer seeking a turnkey rental property, this duplex provides strong income potential from day one. New roof in 2023 and new furnaces in 2025. Don't miss this opportunity to purchase a proven income-producing property

361 Lee Ave, Multi- Family Brick Building, 4 Bedroom, 3 ½ Bath, 3813 +/- Sq Ft., Master Suite with Walk in Closet, Fireplace, Laundry Room, Covered Porch, New roof in 2023 and new furnaces in 2025

361 ½ Lee Ave, 3 Bedroom, 2 Bath, 1562 +/- Sq Ft, Laundry Room, Storage Room, Harrison County, R4 Residential Zoning, Sprinkler System, City Water & Sewer

Legal Description: District 3 Map 18 Parcel 450

1 LOT A S D BROWN LOT 74 1/2FT,

Taxes: $3,400

Terms: Owner Pays Utilities , Current Leases with tenants will convey to the new owner. 10% nonrefundable down payment due within 48 hours of the close of the Auction. No financing or other contingencies. Any required inspections must be completed prior to bidding. All information contained herein derived from sources deemed reliable but not warranted. Sold as is, no warranties written or implied. Property will be sold free and clear of any & all liens and encumbrances. Taxes will be prorated to the day of closing. 45 days to close. 10% buyer’s premium will be added to determine the final contract price. 

Kaufman Realty & Auctions of WV 

www.kaufmanauctionswv.com

399 W. Main St.    

Bridgeport, WV 26330   

David Anthony Kaufman, Broker 

License #WV0030037 

Wayne Yoder - Auctioneer/Realtor  

[email protected]

Cell# 304-931-1285

License #WV0029880   

Auc. Lic. #2161 

Andrew Yoder Jr. - Auctioneer/Realtor 

[email protected]   

Cell# 304-931-1185  

License #WV0028890

Auc. Lic. #2086

Terms: Owner Pays Utilities , Current Leases with tenants will convey to the new owner

10% nonrefundable down payment due within 48 hours of the close of the Auction. No financing or other contingencies. Any required inspections must be completed prior to bidding. All information contained herein derived from sources deemed reliable but not warranted. Sold as is, no warranties written or implied. Property will be sold free and clear of any & all liens and encumbrances. Taxes will be prorated to the day of closing. 45 days to close. 10% buyer’s premium will be added to determine the final contract price.        

Please note that approval is required to bid on this auction. Bidder approval closes one hour prior to the scheduled soft close time. Example…soft close of 7 PM, bidder approval closes at 6 PM. WE STRONGLY SUGGEST YOU COMPLETE THE REQUIREMENTS AND REQUEST APPROVAL 24 HOURS PRIOR TO THE SCHEDULED SOFT CLOSE. Kaufman Realty & Auctions is not responsible for anyone who does not meet the approval time or requirements to bid. Failure to register until the last minute could result in not being approved. 

Successful bidder will be emailed a contract to be executed and returned to Kaufman Realty & Auctions of WV. Successful bidders will deposit 10% of the Contract price in the form of cashier’s check or wire transfer to Kaufman Realty & Auctions of WV. The entirety of the remaining balance is due at closing or within 45 days. Instructions for wire transfer and /or cashier’s check transmittal will be sent by e-mail to the successful bidder. Purchaser shall be responsible for wire transfer fees.        

Property lines on our maps are approximate. Not a survey.

Contract Documents will be sent by e-mail to the successful bidder must execute and fax or email back to Kaufman Auctions within 48 hours of the end of the auction. 

Successful bidders not executing and returning their contract with earnest money deposit within 48 hours of the conclusion of the auction will be considered in default.        

At the close of bidding, the online bidding system is set to begin ending at 12:00 P.M. Noon with the “extend all” feature. If a bid is placed with less than 5 minutes left, the time will reset to 5 minutes for the entire auction and will continue to do so until no bids are placed within the last 5 minutes.  

Buyer's Premium Example:        

Bid Price: $100,000        

Plus 10% Buyers Premium: $10,000        

Total Contract Price: $110,000         

Down Payment $11,000      

Bid Increments  

$0-$50,000= $1,000

$50,000-$100,000= $2,500

>$100,000= $5,000

Reserve Info:

In a reserve auction, if a bidder's max bid is below the reserve, the system bids on behalf of the seller up to the reserve.

All auctions are sold with a reserve unless otherwise advertised. Per WV State Law.

DISCLOSURE: Kaufman Realty & Auctions of WV is acting as Auctioneer/agent and is an agent for the seller only.        

DISCLAIMER: Information contained herein is believed to be correct to the best of auctioneer/agent’s knowledge but is subject to inspection and verification by all parties relying on it. Sellers, their representatives and auctioneer/agent shall not be liable for inaccuracies, errors, or omissions.        

All acreage, square footage and other dimensions are approximate. Subject to final survey if sold in separate parcels. 

BUYER/BROKER INFORMATION: Up to 3% Commission will be paid to any properly licensed buyer's broker who registers a successful buyer according to the Broker Participation Guidelines. Broker registration forms are available. Call for Broker Registration Form or print it from the documents tab for that specific Auction. Must be registered & Approved 24 hours prior to Auction. Brokers/Agents are not entitled to a commission if they are the purchaser.  

By bidding, bidder verifies that they have read, reviewed, and agreed to the purchase documents available under the documents tab of this auction. If buyer requires a review of these documents by their counsel, this must be done prior to bidding. In addition, bidder agrees that this bid is a legal and binding contract upon the bidder. It is also understood that a bidder may at some point be outbid but due to combinations of sale may move back into winning position. Therefore, all bids remain valid until the winning bids have been declared. Bids may not be retracted.  

Communications: By accepting these terms, you agree to receive email and SMS correspondence. You may opt out at any time.