300 Wai Nani WAY #Apt II2412 Active Save Request In-Person Tour Request Virtual Tour
Honolulu,HI 96815
Key Details
Property Type Condo
Sub Type Condominium
Listing Status Active
Purchase Type For Sale
Square Footage 944 sqft
Price per Sqft $476
Subdivision Waikiki
MLS Listing ID 202400403
Style High Rise
Bedrooms 2
Full Baths 2
Construction Status Excellent
Year Built 1984
Property Description
Amazing investment opportunity! This property is not for owner occupants. Owner is selling only the FEE INTEREST. The leasehold interest is owned by a Japanese corporation that consistently pays the current annual lease rent of $10,817 on time. There will be two more lease rent renegotiations, in 2024 and 2034, before the lease expires 10/31/2039. At lease expiration the fee owner will then own the fee simple interest in this 2-bedroom 2-bath unit and can move in, rent, or sell the unit. Recent fee simple 2-bedroom 2-bath units in this community sold between $615,000 and $632,000, and recent rentals have been $3,000 to $3,500 monthly. Great potential for increased lease rent and appreciation in the remaining 15 years of the lease! During those 15 years the fee owner doesn't have to worry about finding tenants or paying for repairs, maintenance/association fees, property taxes, or any assessments because the leasehold owner is responsible for those expenses. There is no access to see the interior of the unit - leasehold owner has no obligation to provide access. The purchase of this unit will need to be cash or high down payment financing.
Location
State HI
County Oahu
Community Barbecue,Clubhouse,Community Pool,Conference/Meeting Room,Laundry Facilities,Pool,Recreation Area,Tennis Court(S),Trails/Paths,Trash Chute
Area Metro
Building/Complex Name Liliuokalani Gardens
Interior
Interior Features Bedroom on Main Level,Full Bath on Main Level
Cooling Central Air
Flooring Other
Inclusions AC Central,Cable TV,Dishwasher,Range/Oven,Refrigerator,Smoke Detector
Furnishings Partially
Fireplace No
Exterior
Parking Features Garage,Guest,None,Other,On Street,Secured
Community Features Barbecue,Clubhouse,Community Pool,Conference/Meeting Room,Laundry Facilities,Pool,Recreation Area,Tennis Court(s),Trails/Paths,Trash Chute
Amenities Available Management
View Y/N Yes
View Canal,Garden
Building
Entry Level One
Architectural Style High Rise
Level or Stories One
New Construction No
Construction Status Excellent
Schools
Elementary Schools Jefferson
Middle Schools Washington
High Schools Kaimuki
Others
HOA Fee Include Cable TV,HVAC,Hot Water,Internet,None,Sewer,Water
Tax ID 1-2-6-028-049-0370
Security Features Closed Circuit Camera(s),Elevator Secured,Key Card Entry,Fire Sprinkler System,Security Guard
Special Listing Condition None