Condominiums to Be Auctioned

Forty-eight unsold units of the Monterey Island condominiums, 222 Monterey Road, Glendale, will be put up for sale at auction Aug. 11 at opening bids at or below 50% of the last asking price, according to the R. Thomas Ashley marketing firm of Newport Beach.

The complex was built two years ago but ran into problems attributed by the Merrill Lynch Real Estate Advisory and Appraisal Group to pricing that generally exceeded the price levels of good-quality housing of that type.

Units being offered are open daily for inspection up to and including the auction day and are on the building’s second floor and every alternate floor through the 16th.