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Type of Auction: Reserved Auction
Address of Auction: 340 Bradford Dr., Charlotte ,
NC
Auction Contact Name: Jason James Dolph
Auction Contact Phone: 704-831-8983
Auction Contact Fax: 704-248-0839
Auction Contact Email: jdolph@chartwellgroup.com
Reason for Auction: Family Estate Planning Directs Immediate Sale
Auction Highlights: NORTH CAROLINA REAL ESTATE AUCTION
BRADFORD PLACE APARTMENTS in Charlotte, NC
44 Two-story Units / 6 Buildings
93% Occupied – All 2 Bed/ 1.5 Bath at $500/month
37/44 Units recently upgraded
Offered w/ Reserve. Suggested Opening Bid: $795,000
AUCTION DATE: Wed. May 21, 2008: 1:00 P.M.
AUCTION LOCATION: Embassy Suites Hotel, 4800 S. Tryon St., Charlotte, NC
PROPERTY DESCRIPTION: Built in 1971, the 44-unit Bradford Place Apts. feature 6 buildings totaling 42,240 Sq Ft / 940 Sq Ft each unit. All units are 2-story townhome style with 2 bedrooms and 1.5 baths. $246,000 scheduled annual income
at 93% occupancy. 41 of 44 units currently rented below market at $500 each. Likelihood of increased revenue through
Section 8 program. 37 units have been recently upgraded including new countertops, tile floors, and kitchen cabinets. Original hardwood floors in 2nd story of all units. Washer and Dryer connections, Stove, and Refrigerator in most units. Tenants pay electric and cable. Brick construction on 2.26 fenced and well lighted acres.
REASON FOR SALE . An unexpected illness has forced the expedited sale of this family owned and operated apartment
complex at real estate auction on May 21, 2008, at the Embassy Suites Hotel.
Inspection: ON SITE INSPECTIONS: You are invited to schedule an appointment to inspect the Property on the following dates
and times: Fri. May 2, Thurs., May 8 and Wed. May 14 from1:00 P.M. to 3:00 P.M. Call Jason Dolph at 704-831-8983 to
Schedule Appointment for these dates.
Directions: LOCATION DESCRIPTION: Only 5 Miles from Downtown traveling West on Freedom Dr., Right on Bradford Dr. Located near shopping, schools, transit, & airport. One mile from I-85. Major employers include Bank of America, Wachovia, US Airways, Wal-Mart and AT&T.
Terms & Conditions: 7.5% Buyers Premium. Initial Earnest Money Required to Bid . Please contact Jason Dolph at 704-831-8983 for complete Terms of Sale.
Chartwell Auctions / NCAF 7881 / Gordon Greene, NC Broker & Auctioneer / NCAL 7752
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