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300 Wai Nani Way , Apt II2412

Honolulu, HI 96815
  • $450,000
  • STATUS: Active
  • ON SITE: 330 Days
  • MLS #: 202400403
UPDATED: 23 min ago
$450,000
  • 2
    BEDS
  • 2.75
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
  • 944
    SQFT
  • $477
    $/SQFT
Neighborhood:
Type:
Condo
Built:
1984
County:
Area:

School Information

Elementary School:
Middle School:
High School:

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.

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© 2024 HiCentral MLS, Ltd. All rights reserved.
Some of the active listings on this site may be listed by other REALTORS®. If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company's active listing, you may speak to one of our agents regarding your options for representation.

IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Compass.

Licensed in the State of Hawaii, USA.
www.barneshawaii.com/homes/146644244
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300 Wai Nani Way , Apt II2412 Honolulu, HI 96815

  • Price: $450,000
  • Status: Active
  • On Site: 330 Days
  • Updated: 23 min ago
  • MLS #: 202400403
2
Beds
2
Baths
0
½ Baths
2.75
Acres
944
SQFT
$477
$/SQFT
1984
Built
Neighborhood:
Waikiki
County:
Oahu
Area:
Metro
Elementary School:
Jefferson
Middle School:
Washington
High School:
Kaimuki
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.
Exterior Features

Architectural Style High Rise Construction Materials Concrete Entry Level 18 Garage YN Yes Parking Features Garage Guest None Other On Street Secured Parking Total 0 Spa Features Community View Canal Garden View YN Yes

Interior Features

Building Area Total 944 Cooling Central Air Cooling YN Yes Flooring Other Furnished Partially Interior Features Bedroom on Main Level Full Bath on Main Level Levels One

Property Features

Association Amenities Management Association Fee 0 Association Fee Includes Cable TV HVAC Hot Water Internet None Sewer Water Availability Type Building Name Liliuokalani Gardens Community Features Barbecue Clubhouse Community Pool Conference / Meeting Room Laundry Facilities Pool Recreation Area Tennis Court(s) Trails / Paths Trash Chute Disclosures Call Agent Seller Disclosure See Remarks Inclusions AC Central Cable TV Dishwasher Range / Oven Refrigerator Smoke Detector Land Tenure Fee Simple Lease Amount 901.42 Maintenance Expense 0 New Construction YN No Property Condition Excellent Property Sub Type Condominium Security Features Closed Circuit Camera(s) Elevator Secured Key Card Entry Fire Sprinkler System Security Guard Special Listing Conditions None Tax Annual Amount 0 Zoning Description X2 - Apartment Precinct

Listings provided courtesy of Compass: (808) 825-4277.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. Listings last updated on 2024-12-11T10:58:51.007. Information is deemed reliable but not guaranteed. Copyright: 2024 by HiCentral MLS, Ltd.


© 2024 HiCentral MLS, Ltd. All rights reserved.
Some of the active listings on this site may be listed by other REALTORS®. If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company's active listing, you may speak to one of our agents regarding your options for representation.

IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Compass.

Licensed in the State of Hawaii, USA.
 
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1586 Mokulua Dr.
Kailua HI, 96734