Homes for sale - 300 Wai Nani WAY #Apt II2412, Honolulu, HI 96815

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Listed by Compass

$ 450,000

Est. payment -/mo

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Active

300 Wai Nani WAY #Apt II2412 Honolulu, HI 96815

2 Beds

2 Baths

944 SqFt

UPDATED:

09/30/2024 04:59 PM

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

Jesse Damron

Agent | License ID: RS-85581 | RB-24007

+1(808) 797-8881