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300 Wai Nani Way , Apt II2412

Honolulu, HI 96815
  • $450,000
  • STATUS: Active
  • ON SITE: 100 Days
  • MLS #: 202400403
UPDATED: 181 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 Hawai‘i Life Real Estate Brokers.

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

  • Price: $450,000
  • Status: Active
  • On Site: 100 Days
  • Updated: 181 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

Construction Materials Above GroundConcrete Floor Number 18 Parking NoneGarageGuestOtherSecured EntryStreet Parking Additional 0 Stories 21+ Style High-Rise 7+ Stories View GardenMarina/Canal

Interior Features

Elevators 4 Floors Other Furnished Partial Inclusions AC CentralCable TVDishwasherRange/OvenRefrigeratorSmoke Detector Sq Ft Roofed Living 944 Unit Features Bedroom on 1st LevelCentral ACEven# UnitFull Bath on 1st FloorSingle Level

Property Features

Amenities BBQClub HouseCommunity LaundryCondo Association PoolFire SprinklerMeeting RoomPool on PropertyRecreation AreaResident ManagerSecurity GuardTennis CourtTrash ChuteWalking/Jogging PathWhirlpool Assessed Value Improvements 516300.00 Assessed Value Land 192100.00 Assessed Value Total 708400.00 Association Fee 0 Association Fee Includes AC CentralCable TVHot WaterInternet ServiceSewerWaterNone Association Fee Total 0 Association Fee2 0 Association Fee2 Includes None Building Name Liliuokalani Gardens Current Monthly Lease Or Rent 901.42 Disclosures Call ListorProperty Disclosure StmtSee Remarks Flood Zone Zone AE Foreclosure YN No Fractional Ownership YN No Land Recorded Land Court Land Tenure FS - Fee Simple Lease Expires 2039-10-31 Lease Until Year 2039 Listing Financing CashConventional Maintenance Fees 0.00 Management Company Touchstone New Construction No Occupancy Tenant Possession At ClosingNegotiable Property Condition Excellent Security KeyKeyed ElevatorSecurity PatrolVideo Special Sale Conditions None Tax Amount 0.00 Tax Annual Amount 0.00 Tax Paid By Seller 0 Tax Year 2024 Zoning 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 2024-04-25T03:59:19.427. 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 Hawai‘i Life Real Estate Brokers.

Licensed in the State of Hawaii, USA.
 
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