The price tag means the property in Upperton, near Airdrie, could be the cheapest home in the UK.
Although the dilapidated apartment needs "significant upgrading", Auction House Scotland said it offered "huge potential for development".
The flat is due to go under the hammer at an auction in Glasgow, with a guide price of £1, later this month.
It is expected to be snapped up by a buy-to-let landlord.
Gillian Cochrane, director of operations at Auction House Scotland, said it was not the first property they had advertised for £1.
"We have done it once before and the flat sold for £14,500 to a London-based property manager," she said.
"It's a not a strategy that we'd use for all types of property.
"It's very run-down and the seller is desperate to get a quick sale - it's a one-off."
The top-floor home in Dervaig Gardens has a shared balcony, communal gardens and on-street parking.
A similar property on the same street sold for £25,000 last year.
A three-bedroom flat in a North Lanarkshire village is on the market for just £1.