A mass mortgagee auction of nine rental properties formerly owned by real estate agent and mentor Don Ha was successful, with all the properties selling.
The auction was conducted by Bayleys on behalf of KiwiBank, which was the mortgagee for all nine properties sold today, as well as a 10th property that was sold before the auction.
The properties, all in South Auckland, featured large sections with subdivision potential, with several over 1000sq m, while all but two are currently tenanted.
However, the properties are in varying states of repair and this was reflected in the different prices achieved.
Two 10 bedroom boarding house properties on Rehua Place in Manurewa were sold for $368,000 and $382,000 respectively.
Only one other property fetched over $200,000, a three bedroom duplex on Flamingo Court in Manukau'sGoodwood Heights that sold for $235,000.
Two Papakura properties, at Belgrave Place and Redcrest Avenue, sold for $195,000 and $151,000 respectively, while a property at Clendon Park near Manurewa sold for $189,000.
Three Pukekohe properties were also sold, two on Birdwood Road receiving $151,000 and $137,000 and a property at Kenelly Crescent selling for $165,000 after a discussion with the auctioneer saw the bid lifted from $120,000.
The properties were sold individually to a number of different buyers in a crowded auction room at Bayleys' Viaduct office.