New ocean-oriented condominiums in Newport Beach and Long Beach will be auctioned today at 2 p.m. on top of the parking structure at Hoag Memorial Hospital, 301 Newport Blvd., Newport Beach.
"These are not distressed properties," a spokeswoman for LFC Real Estate Marketing Services, which will conduct the auction, said. However, the first five of the 35 properties to be auctioned will be absolute sales, meaning the seller will not have the right, as with the remaining properties, to accept or reject the bids. No minimum bids have been established.
Before the condominiums are auctioned, a BMW convertible will be auctioned, with proceeds going to Hoag Memorial.