300 Wai Nani Way, Unit II2412
$450,000
2
2
944
944
$477
Listed By Compass
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...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.
Listing Agent
Property Details for 300 Wai Nani Way, Unit II2412
Architectural Style
High-Rise 7+ Stories
ViewGarden, Marina/Canal
ZoningX2 - Apartment Precinct
NeighbourhoodWAIKIKI
Flood ZoneZone AE
Stories/Levels21+
Land TenureFS - Fee Simple
LISTING UPDATED: 01/19/2024 05:20 PM
Property Details for 300 Wai Nani Way, Unit II2412
Status | Active |
---|---|
MLS # | 202400403 |
Days on Market | 290 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Condo |
MLS Type | Condo/Townhouse |
Year Built | 1984 |
County | Honolulu County |
Buyer's Agent Compensation | 2.5% |
Compensation Remarks | No GET |
Building Information for 300 Wai Nani Way, Unit II2412
Building/ComplexLiliuokalani GardensFloor-Stories-Residences-Pet Policy-Year Built1984
Property Information for 300 Wai Nani Way, Unit II2412
Property History for 300 Wai Nani Way, Unit II2412
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 300 Wai Nani Way, Unit II2412
This home is within Hawaii Department Of Education.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | PK to 12 |
Rating | School | Distance |
---|---|---|
President Thomas Jefferson Elementary School PublicPK to 5 | ||
President George Washington Middle School Public6 to 8 | ||
Kaimuki High School Public9 to 12 | ||
Hawaii School For The Deaf And Blind PublicPK to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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