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Buyers of 3 Properties at Sheriff’s Auction Hopeful
YOUNGSTOWN, Ohio -- Sheriff’s sales might not be happy endings but often they are endings that lead to rebirths.
Ron Roman of George Roman Auctioneers Ltd., Canfield, conducted two quick sheriff’s sales for the Mahoning County Court of Common Pleas Thursday afternoon, both buyers intending to reclaim and renew the abandoned and dilapidated properties, one in Boardman, the other in Austintown.
The first attracted two registered bidders but only Tracy Jordan of Will Dan Enterprises Inc. submitted an offer on the property at 4328 Market St., Roman said. She will pay $16,000, two-thirds of its appraised value and the minimum acceptable bid.
As is the practice at sheriff’s sales, Jordan put 10% down as she awaits the paperwork in the court to be completed before paying the balance.
At 4249 and 4259 Mahoning Ave., the sole bidder was the neighbor just across South Beverly Avenue, Terry Reardon, director of the Higgins-Reardon Funeral Home. He likewise bid the minimum, $66,000, two-thirds of the appraised value, $99,000.
Both properties had been owned by Mahoning Corner LLC, listed address 5611 Market St., Boardman, an affiliate of Neos Homes LLC with Jason Neapolitan listed as managing partner in documents filed with the office of the Ohio secretary of state in 2006.
Delinquent property taxes on the Market Street property, purchased by Mahoning Corner LLC in 2006 for $22,000, amount to $2,056.91. On the two properties on Mahoning Avenue, deliquent taxes are $19,727.81; they were purchased in 2006 for a combined $300,000, according to Mahoning County records.
The property in Boardman is a lot 20 by 150 feet, or 0.069 acre, where a house with 560 square feet was built in 1954.
Jordan, who says Will Dan Enterprises owns other rental properties and manages day-care centers, intends to convert the house into an office to manage her residential rental properties on the south and west sides of Youngstown – “We’ve been working out of a post office box,” she said – but is unsure of how much restoration work is needed. Her goal is to move in by September.
She couldn’t enter the house to inspect it. “There was no key so we couldn’t get in,” she explained. “All we could do was peek in,” and it appeared structurally sound. What she could see, “the outside and back yard, need quite a lot of work,” Jordan said.
Reardon grew increasingly frustrated as he watched the former dental office and two-story brick house next door deteriorate, he said. Indeed, the Mahoning County Board of Health had posted an order denying entrance in the window of the front door. The order noted trespassers had used the house as a shelter and vandals had removed the copper pipe.
The one-story building, which has a sandstone façade, housed the practice of Michael J. Vaporis, D.D.S. Inc., a tattoo parlor and barber shop in its 6,000 square feet.
The dark-red brick house with 1,900 square feet has a detached garage. The sidewalk to the front door was crumbling and weeds have overtaken the yard.
“I’ve been watching it deteriorate nine months,” Reardon said before he signed the papers Roman presented. “It’s bugged me every day to see this happen.”
His purchase “will give me peace of mind,” the funeral director stated. While lacking specifics on what the properties will be used for, Reardon said, “The first thing we’ll do is clean up the outside. I just want to clean things up. That will be better for the community.”
After “renovating and saving” the buildings, Reardon expects to rent them.
Copyright 2013 The Business Journal, Youngstown, Ohio.
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