Seventy nine percent of the units at Solar World Estates are one
bedroom/one bathroom; the balance is mostly two bedroom/
one bathroom, with the exception of one two-bedroom/two
bathroom unit, and one three-bedroom/one bathroom unit.
The 2012 Spokane County apartment market had an overall
vacancy rate of 5.7%, with a 6.3% to 6.8% vacancy for one and
two bedroom units, according to information provided by
Greater Spokane Incorporated.* Spokane has historically been
an affordable housing market, with the average rental rates for
one and two bedroom units in the range of $582 to $682.
The Solar World Estates are based on a four-plex design, and
there are nineteen individual tax lots, providing the option
and opportunity for a new owner to sell individual buildings,
or groups of buildings, as either leased investments, or to
affordable housing organizations. The excess land at Solar
World Estates West, near FairchildAir Force Base and Spokane
International Airport, could provide additional income from
land sales and/or development.
The combination of the Solar World Estates two locations,
with proximity to employment and transportation, four-plex
design and excess land, provides a significant affordable
housing investment opportunity in the growing economic,
financial and service capital of the Inland Northwest.
3
Solar World
Estates North
contains 8 four-
plex buildings
Solar World
Estates West
*
Runstad Center for Real Estate Studies, University of Washington and
Journal of Business 2012 Market Fact Book
Mayfair
Court
Pine Ridge
Court
Division St.
Location Map
R E A L T Y M A R K E T I N G / N O R T H W E S T
Conditions of Sale #1305
REALTY MARKETING/NORTHWEST
AUCTION INFORMATION OFFICE
Oregon Office:
522 SW Fifth Avenue, Suite 1250
Portland, Oregon 97204
Phones (during regular business hours 8:30 AM to 5:00 PM
Pacific Time):
Portland Metro Area
(503) 228-3248
Toll Free
(800) 845-3524
Facsimile
(503) 242-1814
Email:
info@rmnw-auctions.com
SUPPLEMENTAL INFORMATION PACKAGE
A Supplemental Information Package is available on the Property
and includes: Maps, Trustee’s Sale Guarantee, Notice of Trustee’s
Sale, Motion for Relief from Stay, zoning information and appraisal
summary. To receive the Supplemental Information Package call
Information Office at 1-800-845-3524.
TRUSTEE’S SALE
Unless the existing default is cured or circumstances then existing
dictate a continuance of the Trustee’s Sale or other matter of law
occurs, the Trustee under the Deed of Trust securing the property
intends to sell at public auction to the highest bidder for cash or
credit bid, payable at time of sale, the property described in the
Notice of Trustee’s Sale. The sale will be conducted in accordance
with Revised Code of Washington, Chapter 61.24 RCW.
The property will be sold at the Trustee’s Sale in a manner intended
to achieve the highest bid, which sale is presently scheduled to be
held at the Spokane County Courthouse n April 12, 2013 at 10:00
.m., as outlined in the N tice of Trustee’s Sale. The successful
bidder must tender the bid price in the form of cash or cashiers
check made payable to: Stocker, Smith, Luciani & Staub, PLLC in
trust, at the time of sale. The Trustee will open the Trustee Sale with
any Credit Bid Amount provided by the beneficiary and continue
in increments determined by the Trustee until the Trustee accepts
the highest bid. At the conclusion of the bidding, the successful
bidder will be required to tender to the Trustee funds equal to the
amount of the successful bidder’s final bid. The Trustee may elect to
continue the sale for any purpose including additional time for the
successful Bidder to tender the bid amount. If the successful bidder
tenders funds in excess of its final bid, the trustee will issue a refund
check for any excess payment. Upon receipt and bank clearance of
the purchaser’s funds, the Trustee will issue a Trustee’s Deed to the
successful bidder. A sampl form of the Trustee’s Deed is included
in the Supplemental Package.
DIRECTIONS TO SALE:
Spokane County Courthouse – Auction to be held in the courthouse
e try inside the front steps.
1116 W. Broadway, Spokane, Washington 99201
From I-90 East
Take Exit 280 towards Lincoln Street
Turn Left onto S. Walnut Street (continue onto Maple Street)
Turn Right onto W. Gardner
Take first Right onto N. Walnut Street
Turn Left onto W. Broadway
DISCLAIMERS:
(A) The property will be sold “As Is.” THE PROPERTY WILL BE
SOLD AT THE TRUSTEE’S SALE IN ITS “AS-IS, WHERE-IS, WITH
ALL FAULTS” CONDITION, WITHOUT REPRESENTATION OR
WARRANTY OF ANY KIND WHATSOEVER. The Trustee reserves
the right to continue or reschedule the Trustee’s Sale, or take such
other steps or actions as may be necessary or desirable as permitted
by Washington law. Nothing herein binds the Trustee in the exercise
of its statutory and legal obligations.
(B) Sizes and square footages set forth for the properties are
approximations only, based on the best information available, but
the actual sizes and square footages may be different.
(C) Realty Marketing/Northwest is a Real Estate Consultant for
Inland Northwest Bank, the Beneficiary, and is a licensed real
estate broker in Washington. Realty Marketing /Northwest is not
representing the Trustee and has no authority to bind the Trustee or
control the bidding process as established by the Trustee.
(D) Prospective buyers should inspect all supporting documentation
carefully. Each bidder is responsible for evaluating the property and
completing all due diligence PRIOR to bidding at the Sale, and shall
not rely on Realty Marketing/Northwest and/or the Beneficiary. It
is recommended that bidders seek independent advice, including
legal advice, to fully understand the foreclosure process and the
Trustee’s Sale. The information contained herein has been gathered
from sources deemed reliable and is being provided as a courtesy.
Neither Realty Marketing/Northwest, or the Beneficiary makes any
representations or warranties (either expressed or implied) as to the
accuracy, completeness or correctness of the information contained.
THE SALE IS SUBJECT TO ALL APPLICABLE LAWS.
(E) The information contained here has been gathered from sources
deemed reliable; however, Realty Marketing/Northwest makes no
warranties expressed or implied as to the accuracy of the information
contained here.
©2013 Realty Marketing/Northwest. All rights reserved. No part of
this advertising material may be reproduced or utilized in any form
or by any means, electronic or mechanical, including photocopying
and recording, or by any information storage and retrieval system,
without permission in writing from Realty Marketing/Northwest.
Photography Credits: Bergman Photographic Services, Inc.
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Pre-Press Production and Printing by Bridgetown Printing
Website Design by Emprise Media
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