The Surry County, Va., property owned by suspended Falcons quarterback Michael Vick was sold for well below the assessed value.

The property, which was the scene of the illegal dogfighting ring Vick and his co-defendants allegedly operated, was purchased as an investment by Todd Builders of Carrollton, Va., as an investment, ESPN.com reported. The company, owned by Wilbur Todd Jr., paid $450,000 for the house, which was originally assessed at $747,000. It will be auctioned off Dec. 15.

According to ESPN.com, Vick purchased the 15 acres of land in 2001 for $34,000. He built a home on the property two years later.

While awaiting his Dec. 10 sentencing, Vick has been staying with family in Virginia, and he also recently purchased a condominium in Miami, ESPN.com reported.

Sixty-six dogs were seized by investigators from Vick's property during a raid in the spring. Officials found equipment that was allegedly used in dogfighting during a search of the home, and also found dog carcasses buried on the property.

Vick and his three co-defendants pleaded guilty to federal dogfighting charges. They face up to five years in jail, but it is expected Vick will receive a sentence of about 1 1/2 years. The former Virginia Tech star and No. 1 NFL draft pick also faces state charges in Virginia.