March 1, 2010 (Kansas City, Mo.) – Qualified buyers will have the opportunity to purchase income producing condo hotel units on North Carolina’s Crystal Coast this month. United Country – The Redfield Group is conducting live auctions to sell River Neuse Suites and Island Inn of Atlantic Beach on March 20 in Oriental, N.C., and Atlantic Beach, N.C.
A condo hotel or condotell is made up of individually owned condominium units managed as a hotel. All 30 units will be offered individually to individual buyers.
Conducted by Mike Fisher, auctioneer and chief executive officer of United Country – The Redfield Group, the first auction will take place onsite at River Neuse Suites, with 15 condos selling, at 201 Mildred Street, Oriental, N.C. Registration for the event will begin at 9 a.m., and the auction will take place at 10 a.m.
The second auction will take place at the Sheraton Inn Oceanfront Hotel, with 15 units selling, at 2717 W. Fort Macon Road, Atlantic Beach, N.C. Registration for the event will begin at 3 p.m., and the auction will take place at 4 p.m. Both properties are available for viewing March 13-20 from 10 a.m. to 5 p.m.
“Our seller recognizes the value of using an auction to sell his properties, but more importantly, it provides buyers the opportunity to purchase affordable investment property without overpaying in today’s market conditions,” said Fisher. “At an auction, sellers and buyers come to a meeting of the minds quickly with a competitively achieved fair market value. In times like these, an auction is the best way to establish what real market value is.”
River Neuse Suites is a 16-unit condo hotel located directly across the street from the Neuse River. Island Inn of Atlantic Beach is a 38-unit condo hotel located just a short walk from the public beach, surfboard and beachwear stores, and eating establishments. The fully furnished suites at both hotels feature granite countertop and stainless steel appliances. Just a short drive to major tourist attractions and public beaches, these properties have proven rental histories and future room reservations on the books. Both properties have onsite rental offices and virtual resort manager (VRM) rental and bookkeeping systems which allow condo owners to track rental and income on their unit.
“These auctions present buyers the opportunity of a lifetime,” said Fisher. “Both of these condo hotels are located on the beautiful banks of North Carolina, offering guests spectacular water views and convenient access to tourist attractions and the beach. If you’re looking for an affordable income-producing investment, look no further than River Neuse Suites and Island Inn of Atlantic Beach!”
Detailed information about the condos for sale, as well as details about the auctions, can be found online at www.redfieldgroup.com or by calling 866-673-9270.
About United Country
United Country Real Estate is the largest fully integrated franchise network of conventional real estate and auction real estate professionals in the United States. Based in Kansas City, Mo., the company has been an innovator in real estate marketing since 1925. United Country supports nearly 650 offices across the U.S. and in Costa Rica with a unique, comprehensive marketing program that includes one of the largest portfolios of property marketing web sites (more than 1,000 separate sites), seven proprietary real estate catalogs with a cumulative distribution of 1.5 million, an extensive, current buyer database and national advertising of properties to more than 90 million potential buyer prospects a week. United Country has been recognized by Dun and Bradstreet’s AllBusiness.com as the top U.S. real estate franchise, the Wall Street Journal as a top 1 percent franchise and Entrepreneur Magazine's Franchise 500® as a top 100 global franchise.