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Anthony Cox

acox@coxgrouphi.com +1(808) 369-9782

$ 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:

Key Details

Property Type Other Types

Listing Status Active

Purchase Type For Sale

Square Footage 944 sqft

Price per Sqft $476

MLS Listing ID 202400403

Style High-Rise 7+ Stories

Bedrooms 2

Full Baths 2

Year Built 1984

Lot Size 2.747 Acres

Acres 119659.0

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 Honolulu

Area Metro

Zoning Zone AE

Interior

Flooring Other

Inclusions AC Central, Cable TV, Dishwasher, Range/Oven, Refrigerator, Smoke Detector

Furnishings Partial

Exterior

Parking Features None, Garage, Guest, Other, Secured Entry, Street

Amenities Available 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

View Garden, Marina/Canal

Building

Story 21+

Schools

Elementary Schools Jefferson

Middle Schools Washington

High Schools Kaimuki

Others

Ownership FS - Fee Simple

Honolulu Board of REALTORS® - HiCentralMLS

Listed by Compass

Anthony Cox

300 Wai Nani Way #Apt II2412 Honolulu, HI 96815

Key Details

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300 Wai Nani Way #Apt II2412