Investment Property for Sale in Radford VA

Online Auction Ends Thursday, August 22nd at 4 PM
1205 Downey St., Radford, VA 24141
www.blueridgel...
Charming historical home with investment potential located just two blocks from Radford University and minutes from I-81. This corner property has +/-0.6267 acres and features a home built in 1949 with historical charm and investment potential. The residence has 5,572 square feet on 3 levels and a full basement, providing ample living space with 8 bedrooms and 4 bathrooms. Each level includes its own kitchen, making it ideal for multi-person living and potential rental opportunities. Home is heated by a gas hot water radiator system.
The ground level features a laundry room, den area, kitchen, and bathroom. 10 foot ceilings, oak hardwood floors, and a wood fireplace. The second level has 3 bedrooms, 1 bath, a kitchen and sitting area. The second level also includes a convenient exterior balcony entrance in addition to interior stairs. The third level offers 2 bedrooms, a kitchen, living room, and bathroom. The property's basement provides additional living space with 3 bedrooms, 1 bath, and a kitchen.
Outside, the home features a large front covered porch, a metal roof, and vinyl siding with cinderblock/rock foundation. Public water and sewer.
The property also offers two independent, separate cottages with a total of 730 sq ft of living space that adds to potential rental income.
The subject property consists of 2 adjoining parcels, 1205 Downey St. and 1201 Downey St. The house tract (1205) extends approximately 180' back to a 14' public alley. 1201 Downey St. is a vacant lot at the corner of Downey St. and 2nd Ave. The 2 combined parcels have approximately 178' of frontage on Downey St. and approximately 102' along 2nd Ave. The total area of the 2 lots combined is approximately +/- 0.6267 AC.
Street parking is allowed on Downey St. plus ample space beside the house and on the adjacent vacant tract.
With its proximity to Radford University and potential for renovation, this property offers a unique blend of historical character and practicality, making it a compelling investment opportunity in a prime location.
PREVIEW DATE: Friday, August 16th at 4 PM
BIDDER PACK: Download Bidder Pack for complete information on each offering. Bidder Pack has maps, complete terms and conditions, sample contracts, tax cards, and restrictions. Some of the plats in Bidder Pack may have notations and boundaries created by Auctioneer for illustration purposes, however unchanged surveys are in Bidder Pack as well.
SOFT CLOSE: If a bid is received within the last 2 minutes of the auction or after 4 PM, the auction close time will automatically extend 2 minutes to allow other bidders an opportunity to competitively bid prior to the auction closing. This feature eliminates “snipers” and encourages fair and impartial bidding from all participants.
BUYER’S PREMIUM - TEN PERCENT (10%): Buyer’s Premium shall be added to the final online bid, which will determine the Total Contract Sales Price. Bidders hereby acknowledge and understand that the Buyer’s Premium will be added to the winning bid to create the Total Contract Sales Price for which they are obligated to pay for the property. Example: (winning online bid $100,000 + 10% buyer’s premium = total purchase price of $110,000). Buyer’s Premium is not due until closing.
TERMS AND CONDITIONS: 10% Buyer’s Premium will be added to final high bid to arrive at contract price. Earnest Money Deposit of $20,000 is required on the day of sale. Close on or before October 7th, 2024. Subject to seller confirmation. Property sold as is, where is with any and all faults. Buyer is expected to complete their own due diligence before placing a bid. Auction starts ending at 4 PM on August 22nd, 2024. Please note that during the last two minutes of bidding, if a new bid is placed, the clock is automatically extended an additional two minutes. Be sure to register to bid early to ensure you receive notifications regarding any changes to the Auction, Bidder Packet and/or Pre-Auction offers received. Download Bidder Information Pack for complete terms and conditions, purchase contract and maps.