Liliuokalani Gardens
300 Wai Nani Way #Apt II2412
Honolulu, HI 96815

For Sale
Active
List Price
$450,000 (FS)
Property Type:
Condo/Townhouse
Bedrooms:
2
Full Baths:
2
Half Baths:
0
Land Area (sf):
119,659
Living (sf):
944
Lanai (sf):
--
Other (sf):
--
Parking Stalls:
0 - None, Garage, Guest, Other, Secured Entry, Street
MLS #:
202400403
Island:
Oahu
Region:
Metro Oahu
Neighborhood:
WAIKIKI
TMK:
1-2-6-028-049-0370
List Date:

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.

PROPERTY INFORMATION:

Zoning:
X2 - Apartment Precinct
Furnished:
Partial
Year Built:
1984
Year Remodeled:
--

FINANCIAL INFORMATION:

Assd. Val. Land:
$192,100
Assd. Val. Imprv:
$516,300
Assd. Val. Total:
$708,400
Tax Year:
2024
Monthly Taxes:
$0
Home Exempt.:
$0
Maintenance Fees:
$0/mo.
Association Fees:
$0/mo.
Other Fees:
$0/mo.

SCHOOLS:

Elem. School:
Jefferson
Middle School:
Washington
High School:
Kaimuki

OTHER PROPERTY FEATURES:

Frontage:
--
View:
Garden, Marina/Canal
Pool:
--
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
Inclusions:
AC Central, Cable TV, Dishwasher, Range/Oven, Refrigerator, Smoke Detector
Security:
Key, Keyed Elevator, Security Patrol, Video
Assn. Fee Inclusions:
AC Central, Cable TV, Hot Water, Internet Service, Sewer, Water, None
Other Fee Inclusions:
None
Lot Description:
--
Topography:
--
Number of Stories:
21+
Building Style:
High-Rise 7+ Stories
Property Condition:
Excellent
Construction:
Above Ground, Concrete
Roofing:
--
Floor Covering:
Other
Disclosures:
Call Listor, Property Disclosure Stmt, See Remarks
Possession:
At Closing, Negotiable
Terms Accept.:
Cash, Conventional
Land Recorded:
Land Court
Exclusions:
--
Easements:
--
Set-Backs:
--
Compensation*:
2.5
Compensation Type:
--

* The offer of compensation to cooperating brokers is made only to the Participants and MLS Subscribers of HICMLS or Participants and MLS Subscribers of other Reciprocating Boards as set forth in that certain Multiple Listing Service Reciprocal Agreement, as amended from time to time, which is incorporated herein by reference.

Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. listings last updated on Friday, July 12, 2024.  Information is deemed reliable but not guaranteed.  Copyright: 2024 by HiCentral MLS, Ltd.  Listing courtesy of Compass