Details for TORRENCE, READ & FOREHAND AUCT

Updated

FORECL O S U R E
April

9

AUCTION
Friday,
ay, Apr.9
Apr at 1PM

Friday

601 Bridge St
Danville, VA

74-Unit Apartment Community
Auction will be held at The Institute
for Advanced Learning & Research
150 Slayton Ave, Danville, VA
Selling for David Lingerfelt, Substitute Trustee

Bridge Street Side

Prime Location

Attractive Interior

Property: 601 Bridge St, Danville, VA (tax parcel 21459)
Type: Occupied Apartment Building - 74 units
Occupancy: 93% (opportunity to fill vacancies at market rate)
Buildings: Two historic buildings redeveloped into
apartments in 2004 with two stair and elevator towers added
to connect the buildings and provide full ADA accessibility.
Size: 87,704 sq.ft. on 1.7 acres
Features: secured entry access, elevators, community room,
patio terrace, 24hr maintenance, and on-site management.
Location: Very attractive location with much to offer tenants.
• Adjacent to the popular Riverwalk Trail
• One block from Averett University’s Riverview Campus
• Near restaurants, breweries, shops, & attractions incl. the
Science Center, Community Mkt, Carrington Pavilion, etc
Value-Add: Foreclosure removes rent restrictions giving an
outstanding opportunity to increase rents to market rate. After
3 years, restrictions are removed completely.
AGENT ON SITE (appointment req’d - call or visit website)
• Tue, Mar.23, Noon-4PM • Tue, Mar.30, Noon-4PM
• Tue, Apr.6, Noon-4PM
• Other dates avail. by appt.
DIR TO PROPERTY: Main St. to Memorial Dr. Qtr mile to
LEFT on Newton St to RIGHT on Bridge St. Property on left.
TERMS SUMMARY: A bidder’s deposit of $150,000 (in the form of
a cashier’s check payable to “David Lingerfelt, Substitute Trustee”)
is required to bid. Successful bidder must execute Foreclosure Sale
Agreement immediately after the sale. Closing to occur within 30 days.
No buyer’s premium will be charged. Full terms available online.

Attractive Interior
TRF

AUCTIONS

Torrence, Read, & Forehand

CONTACT
Mike Torrence
TRF Auctions
434-847-7741

Rick Read
CBC Read & Co.
434-455-2285

Colliers International
Multifamily Advisors
804-320-5500

TRFAuctions.com
434-847-7741
101 Annjo Court, Forest, VA 24551 | VAAF501

101 ANNJO COURT, FOREST, VA 24551

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