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Follow on Google News | Eleven residential properties in Kansas City will be sold in an online-only auction ending Nov. 16Eleven properties in Kansas City, Mo. – ten single-family homes, plus a 6-unit apartment building – will be sold without reserve in an online-only absolute auction that ends Tuesday, Nov. 16, by Mayo Auction & Realty, based in Kansas City.
By: Ken Hall The auction will conclude a six-year legal limbo for the properties, the last five and 1/2 of which saw them in federal receivership while the courts decided what to do with them. It was a case that involved the city, the Department of Housing and Urban Development (HUD) and the Housing & Economic Development Finance Corporation (HEDFC), a city-hired outside agency. “What proved to be a sad chapter in the history of Kansas City’s housing situation will end up being a happy day for some very fortunate bidders,” said Robert Mayo of Mayo Auction & Realty. “What makes this auction so unique is that it is being held entirely online, a strategy our company has used successfully for years. It allows people to bid at any time, at their leisure.” The 6-unit apartment building, located at 2709 Benton Boulevard, is one such property that will need a total rehabbing. But National Historic Standards apply, so the new owner will be eligible for tax credits in addition to knowing they will be renovating a piece of Kansas City’s history. The three-story brick and vinyl-sided structure is presently boarded up and unoccupied. Three new construction homes located at 615, 619 and 623 Kensington Avenue will all be sold to the highest bidder. All are 3-bedroom, 1-½ bath structures with a large and spacious floor plan, poured concrete foundation, detached garage and low-maintenance vinyl siding. “It isn’t often you get to bid on a brand new home,” Mr. Mayo said. “This is a special situation.” The 2 bedroom, 1 bath home at 10703 Ewing Drive has been completely renovated and is move-in ready. Features include a garage, new carpeting, new kitchen appliances and new, low-maintenance vinyl siding. The home located at 3025 Wayne Avenue is only in need of some minor repair to make it move-in ready. The 2 bedroom, 1-bath split-level has a full basement. Several of the properties are in need of a total rehab. Two of them, though – at 2519 and 2535 Tracy Avenue – are in excellent neighborhoods, in the Beacon Hills section of town. Both are large and spacious 3 bedroom/1 bath split-level homes. One has a 1-car garage and both have basements. Each is eligible for a 10-year full or 15-year (50%) tax abatement on improvements. Other properties in need of a total (but easy) rehab include the spacious 3 bedroom/1 bath split level home at 2314 College Avenue, with a basement; the 2 bedroom, 1 bath home at 5227 Euclid Avenue, with a basement and a garage; and the 3 bedroom/1 bath split level residence at 2726 Park Avenue, with a basement. Mayo Auction & Realty are agents for all eleven properties. Mayo Auction & Realty is one of the premier auction and real estate firms in Kansas City and Missouri. The family-owned business is a team of professional auctioneers and Realtors. It conducts real estate and personal property auctions, with an emphasis on on-site auctions of real estate, estates, antiques and collectibles, specialty collections and benefit and fund raising sales. Mayo Auction & Realty also conducts auctions in a spacious, 7,500-square- To learn more about Mayo Auction & Realty and the online-only auction of 11 properties that ends Nov. 16, please log on to www.auctionbymayo.com. # # # Ken Hall writes pre-sale and post-sale press releases for auction houses, for a fee. He writes, submits and tracks stories for clients. Submissions are published in trade magazines, posted on industry websites and appear in local newspapers. End
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