Investors are gearing up for a significant opportunity as Auction Advisors prepares to offer five diverse real estate properties with “incredibly low reserve prices” at a live auction event. The properties—ranging from vacant multi-family buildings to a downtown mixed-use asset—will be sold “free and clear” of liens, financial encumbrances, and back taxes.
Oren Klein, managing partner at Auction Advisors, highlighted the appeal of the properties, noting the attractive reserve pricing. “Five properties are being offered at this auction, all with incredibly low reserve prices,” Klein stated. This strategy aims to generate strong interest and competitive bidding among prospective buyers.
The properties on offer
The auction features a varied portfolio of properties, catering to different investment strategies:
- 189-193 Park Ave: A vacant multi-family property that includes a driveway and garage, offering a clean slate for new ownership.
- 267-269 6th Ave: A partially occupied multi-family property with a parking area and garages, providing immediate cash flow potential.
- 83-85 Madison St: An unusual offering of two partially occupied multi-family properties situated on a single lot.
- 466-468 10th Ave: A substantial six-family property featuring both exterior and interior entrances, complete with a large parking area.
- 95 Market St: A prime mixed-use property located downtown, featuring seven residential units and two retail units, ideal for investors seeking a combination of commercial and residential income.
Auction details and registration
The auction is scheduled for Oct. 22, at the Wyndham Garden Totowa, located at One Route 46 West, Totowa, NJ 07512.
- Registration for the event will begin at 5:00 PM.
- The auction itself will commence at 6:00 PM.
To bid on any property, participants must have a bank or certified check ready. Detailed information, including property facts, pictures, tax maps, and the specific reserves, is available online at either www.AuctionAdvisors.com or www.PatersonAuction.com.
