Online Auctions: Go Drunk-Bid On Some Houston Apartment Complexes
Please rate this( $6.3 million) transaction
Everyone loves to bid online, right?
Especially if you've got a few million to spare. In that case, forget about vintage TV Guides or Hector Heathcote lunchboxes and instead use your bidding skillz on a Houston apartment complex.
Four local apartment complexes are going up for online bids soon via Cushman & Wakefield and ABS Auction.
C&W "is a big believer in online auctions helping property owners to move inventory and relieve the logjam," says Josh Wozman, a representative for the company.
Since people can bid from anywhere on the globe, the hope apparently bubbles that some Ukrainian businessman sitting on a bundle will make an impulsive bid on a Houston apartment complex, probably late at night after watching a re-run of Urban Cowboy.
Among the properties you, or a bored Norwegian teenager, can bid on:
-- Oak Villa Apartments, 3434 West Little York near T.C. Jester: 298 Units minimum bid $4,500,000
-- Yale Court Apartments, 5050 Yale St. in the Heights: 250 Units minimum bid $6,250,000
-- Cedar Ridge Apartments, 2900 W. Baker Road in Baytown: 276 Units minimum bid $6,100,000
-- Fountain Park Apartments, 12525 S. Kirkwood in Stafford: 176 Units minimum bid $6,350,000
There's nothing in the contract that says you have to do a TV ad like this once you make your purchase, but it would be great if you could.
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