The Monterey condos range in size up to 1,600 square feet and have been previously valued up to $539,900. Starting bids will begin as low as $49,000.

The auction will take place at the Palace Station Hotel & Casino conference room with registration beginning at 10 a.m. The Palace Station Hotel is located at 2411 W. Sahara Ave.

"These are lovely, contemporary condos in an ideal and historic location," Frieden said. "This is a unique opportunity to buy an exclusive residence in this community at low auction prices."

Monterey at the Las Vegas Country Club is located east of the Strip within the gates of the Las Vegas Country Club. The sales office, located at 2838 Loveland Drive, is open from 10 a.m. to 5 p.m. daily.

Many of the condos in this gated and private community overlook the fairways of one of Las Vegas' most legendary golf courses. Architectural elements include private patios or balconies, floor-to-ceiling fireplaces, wetbars, built-in bookshelves, and oversized walk-in closets.

Onsite amenities include swimming pools, hot tubs, a fitness center and picnic areas with gas barbecues.

REDC has sold more than $3 billion in real estate assets since May 2007.

To visit Monterey from the Las Vegas Strip, take Sahara Avenue east. Turn right on Paradise Road and left on Karen Avenue.

Enter the community through the Las Vegas Country Club Estates gate on Karen Avenue, located between Paradise Road and Maryland Parkway. The sales office is open from 10 a.m. to 5 p.m. daily.

For more information on REDC or the condos at Monterey at the Las Vegas Country Club, visit AuctionToday.com.