An apartment bought at auction last month was resold two weeks later for $55,000 more than it was purchased for

An apartment bought at auction last month was resold two weeks later for $55,000 more than it was purchased for

There were a couple of Auckland apartments put up for auction by City Sales this week and we also have the results of a string of recent apartment sales completed by Impression Real Estate, including one that was resold for a $55,000 higher price just two weeks after it was purchased.

Of the two apartments to go under the hammer at City Sales' room, there was competitive bidding on one which sold under the hammer, while the only bid on the other was made by the auctioneer.

The one that sold had an interesting sales history. It was a one bedroom shoebox with a car park in the Eden Apartments building around the corner from the Auckland High Court.

According to QV.co.nz it was originally purchased for $315,000 in 2003 and was then resold in August last year $295,000, and resold again at this week's auction for $318,000, only marginally more than the price it was originally purchased for 12 years ago.

The full results from the auction and recent sales by Impression Real Estate are listed below.

Auctioned by City Sales:

• 7a/32 Eden Cres. Eden Apartments building.  A 34 square metre, one bedroom unit with a balcony and a car park. Vacant. Sold for $318,000. Rates were $1120 and the body corporate levy $3222. The agent was Georgia Featherstone.
•  608/10 Waterloo Quadrant. The Quadrant building. A 22 square metre, fully furnished studio, with a management contract in place returning $300 a week. When there were no bids from the floor, the auctioneer made a vendor bid of $150,000 for the unit, but when there were no further bids it was passed in for sale by negotiation. According to QV.co.nz the unit was last sold for $138,000 in 2006. The agent was Maryanne Wong.

Recent apartment sales by Impression Real Estate:

• 121/147 Hobson St. Harvard on Hobson building. A 38 square metre, fully furnished, two bedroom unit rented for $400 a week. Sold for $225,000. Rates were $830 and the body corporate levy $4859. Previously sold for $180,000 in 2004. The agent was Ali Karambayev.
• 108/207 Federal St. The Federal building. A 70 square metre, fully furnished, three bedroom unit. Vacant. Sold for $435,000. Had previously been sold at auction just two weeks previously for $380,000. The agent was Ali Karambayev.
• 926/430 Queen St. Volt building. A 41 square metre, two bedroom unit, rented for $380 a week. Sold for $298,000. Rates were $1072 and the body corporate levy $4922. The agent was Ali Karambayev.
• 1302/430 Queen St. Volt building. A 49 square metre, furnished, two bedroom apartment, rented for $430 a week. Sold for $308,000. Rates were $1169 and the body corporate levy $4922. The agent was Ali Karambayev.
• 14D/156 Vincent St. Eclipse building. A 62 square metre, furnished unit. Vacant. Sold for $400,000.  Previously sold for $352,000 in January 2014. The agent was Ali Karambayev.
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