in 2008, saw this auction with $1 reserve at brown bay........... now this is part of memory of sign of the time ( lehman crisis). The house belong to a developer and sold to this guy.
The final price was over 600k......
There were few $1 auction for city apartments during 2008 crisis.... and sold around 60k - 80k. not that it didn't happened, it happened before.
Are you looking for a 10% return??
Asking price: $45,000Listed: Wed 24 Jul, 4:20 am Listing #: 618709
Location: 302/26 Te Taou Cres
City Centre
Auckland City
Auckland
Rooms: 1 bedroom, 1 bathroom
Property type: Apartment
Price: Asking price $45,000
Property ID#: DIN059
Parking: -
Every smart investor should take look at this. 1 bedroom studio apartment on 3rd level in Grand Central Station.