Linda McCabe and Erin McCabe with Corcoran Pacific Properties
Hawaii Condo ManiaMLS: 202400403 $450,000
2 Bedrooms with 2 Baths300 WAI NANI WAY #APT II2412
HONOLULU HI 96815MLS: 202400403
Status: ACTIVE
List Price: $450,000
Price per SQFT: $477
Square Footage: 9442 Bedrooms
2 Baths
Year Built: 1984
Zip Code: 96815
Listing Remarks
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.
Address: 300 WAI NANI WAY #APT II2412 HONOLULU HI 96815
Listing Courtesy of COMPASS
Community: LILIUOKALANI GARDENS ... Listing 1 of 3
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Condo Mania Agent:
Linda McCabeCorcoran Pacific Properties
Realtor, Broker in Charge
Phone: 808-225-1048
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Listing Details
AREA: Metro NEIGHBORHOOD: WAIKIKI ARCHITECTURAL STYLE: High-Rise 7+ Stories PROPERTY TYPE: Condo/Townhouse LAND TENURE: FS - Fee Simple HOA FEES INCLUDE: None BUILDING NAME: Liliuokalani Gardens AMENITIES: BBQ, Club House, Community Laundry, Condo Association Pool, Fire Sprinkler, Meeting Room, Pool on Property, Recreation Area, Resident Manager, Security Guard, Tennis Court, Trash Chute, Walking/Jogging Path, Whirlpool UNIT FEATURES: Bedroom on 1st Level, Central AC, Even# Unit, Full Bath on 1st Floor, Single Level INCLUSIONS: AC Central, Cable TV, Dishwasher, Range/Oven, Refrigerator, Smoke Detector FULL BATHROOMS: 2 HALF BATHROOMS: 0 VIEW: Garden, Marina/Canal FLOORING: Other STORIES TYPE: 21+ PARKING FEATURES: None, Garage, Guest, Other, Secured Entry, Street PARKING TOTAL: 0 PROPERTY CONDITION: Excellent LISTING AGENT: TOM PRESLER LISTING OFFICE: COMPASS LISTING CONTACT: (808) 825-4277
Estimated Monthly Payments
List Price: $450,000 20% Down Payment: $90,000 Loan Amount: $360,000 Loan Type: 30 Year Fixed Interest Rate: 6.5 % Monthly Payment: $2,275 Estimate does not include taxes, fees, insurance.
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Property Location: 300 WAI NANI WAY #APT II2412 HONOLULU HI 96815
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Condo Mania Agent:
Erin McCabeCorcoran Pacific Properties
Real Estate Associate
Phone: 808.485.9955
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Last Updated: 2024-04-26